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Saturday, March 2, 2024

Nationals Tap Firm to Explore Potential Sale of Franchise

  • Managing principal owner Mark D. Lerner says "there is no set timetable" on possible change of ownership structure.
  • Ted Lerner purchased the Nats for $450 million in 2006, the team's first season in Washington.
Nats Sale
Evan Habeeb-USA TODAY Sports

The Washington Nationals are exploring a sale, among other options, managing principal owner Mark D. Lerner announced on Monday. 

Allen & Company — the firm that handled the sale of New York Mets, netting an MLB-record $2.4 billion in 2020 — has been retained as part of what Lerner described as an “exploratory process” that could result in a sale of the franchise valued at $2 billion

Real estate developer Ted Lerner, 96, purchased the Nationals for $450 million in 2006, the team’s first season in the nation’s capital after the franchise relocated from Montreal. Lerner transferred day-to-day oversight of the team to his son Mark in 2018. 

Lerners’ Success in D.C. 

Washington lost three MLB teams in its history and had been without baseball since the Senators moved to Texas to become the Rangers after the 1971 season. 

  • After three seasons at RFK Stadium, the team moved to the 41,418-seat Nationals Park. The $693 million stadium was publicly financed and owned by the Washington Convention and Sports Authority. 
  • Under the Lerners, the Nats won the 2019 World Series
  • After trading ace pitcher Max Scherzer and shortstop Trea Turner last season, plus losing players like Anthony Rendon to free agency after the title run, the team is currently in a rebuilding phase. 

Mark Lerner said “there is no set timetable or expectation of a specific outcome” in his statement.

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