• Loading stock data...
Saturday, October 18, 2025

Ted Leonsis on a Big Decision, Big Plans, and … Better Toilets

  • The MSE chairman calls District mayor Muriel Bowser ‘the hero of the story.’
  • The forthcoming renovations to Capital One Arena will include numerous changes, both big and small.
Tommy Gilligan-USA TODAY Sports

One of the biggest stories of the year so far in the business of sports is the dramatic reversal by Monumental Sports & Entertainment chair Ted Leonsis (above, right), who’s abandoning his planned $2 billion arena and mixed-used development in Virginia to remain in D.C. and at Capital One Arena.

Leonsis joined the Front Office Sports Today podcast and broke down not only how the venue turnabout happened, but also what he sees happening across regional sports media, his own baseball ownership aspirations, and the advance of sovereign wealth funds in pro sports. 

Among the highlights of the interview with Leonsis:

  • Washington persistence: He called D.C. mayor Muriel Bowser (above, left) “the hero of the story” in MSE and credited her continued efforts to strike an arena deal, even after the announced plans to move to Virginia. “She could have been mad at us and not talked to us. … She overcame, in an integrated way, all of our objections, and so it just felt natural to get there” on a deal. 
  • A change in Virginia: A material event in the pursuit of the Alexandria project, of course, was the firm resistance mounted by influential state Sen. L. Louise Lucas. But Leonsis said the problem was even broader, as the discussion surrounding the proposal there quickly veered away from team operations. “As soon as this pivoted from business and started to become all about politics, it started to scare us. We’re not politicians.”
  • Big plans for the arena: Leonsis plans dramatic changes to Capital One Arena in the forthcoming renovation, with regard to both back-of-house components and fan-facing ones. But some elements will be even more straightforward, such as an improvement in bathrooms. “[Clippers owner] Steve Ballmer has made an arms race in plumbing, and it’s serious. I asked people, ‘What did they want?’ and they wanted [shelves over] urinals, better toilets, and we have to make investments in that.”
  • Surviving RSN disruption: MSE purchased the former NBC Sports Washington and rebranded it the Monumental Sports Network. And following a series of improvements to that operation and the creation of a direct-to-consumer offering, Leonsis believes the regional sports network will be an outlier in a broader decline of that part of sports media. “The growth in media sales and sponsorships is offsetting somewhat the meltdown in the deals with the cable guys.”
  • Plans in baseball: Leonsis has previously been linked to a potential purchase of the Nationals. That team is no longer on the market, but he maintains close ties with the Lerner family that owns the MLB club and is a minority partner in MSE. “They know our intentions, and at some point, we’ll reengage.”
  • New ownership trends: MSE’s much-debated deal to introduce a Qatari state fund in its ownership group is emblematic of a rising need, Leonsis says, to access additional capital to keep up with rising team valuations but have that additional investment remain passive and oriented to the long term, and he predicts many more such deals to come across the industry. “Pension funds and sovereign wealth funds are the best source of capital for investments of that kind.”

🎧 Listen to the full episode here and subscribe on Apple, Google, and Spotify

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

May 27, 2025; Indianapolis, Indiana, USA; Indiana Pacers guard T.J. McConnell (9) shoots a three point basket over New York Knicks guard Josh Hart (3) during the third quarter of game four of the eastern conference finals for the 2025 NBA Playoffs at Gainbridge Fieldhouse

NBA Stars Swap Wine With League Friends and Foes

A wine-exchange tradition emerged from the bubble season’s close quarters.
Hansi Flick

Barcelona Players, Coach ‘Not Happy’ About Miami Game

La Liga is on the verge of relocating a December match.
Jon Ledecky

Islanders Owner Warns WNBA Against Labor Strife: ‘No Bueno’

Jon Ledecky drew a stark contrast between the two leagues.
Dave Checketts

Ex-Knicks President: When David Stern Accused Me of Skirting Cap

The Knicks walked away clean when accused of cap circumvention in the 1990s.

Featured Today

May 25, 2025; Indianapolis, Indiana, USA; Derek Jeter walks the red carpet on Sunday, May 25, 2025, ahead of the 109th running of the Indianapolis 500 at Indianapolis Motor Speedway

The Players’ Tribune Is Still Kicking 11 Years Later

Founder Derek Jeter is still closely involved in the publication.
Las Vegas Aces center A'ja Wilson (22) celebrates with her teammates after her last second shot to take the lead 90-88 against the Phoenix Mercury in Game 3 of the WNBA Finals at Mortgage Matchup Center in Phoenix on Oct. 8, 2025.
exclusive
October 10, 2025

Standoff Over WNBA’s Future Has Dominated Finals

CBA negotiations have stolen the spotlight from the Aces’ dominant performance.
Paul Cartier
October 5, 2025

Sports Organists Are Still Thriving in the Era of Raucous Arena Music

“When they walk out and they see a real organ guy, it’s like, ‘Wow.’”
Sep 27, 2025; Milwaukee, Wisconsin, USA; Milwaukee Brewers center fielder Jackson Chourio (11) rounds the bases after hitting a home run during the sixth inning against the Cincinnati Reds at American Family Field.
October 4, 2025

Milwaukee Moneyball: Brewers Are Beating MLB’s Deeper Pockets

Milwaukee is holding its own against big-budget competitors.

Steelers’ Shared Stadium With Pitt Comes Under Fire for Bad Turf

The conditions at Acrisure Stadium have been subpar this season.
October 13, 2025

Browns, Cleveland Reach $100M Deal to Clear Team’s Move to Suburbs

The surprise truce includes financial payments and the dismissal of lawsuits.
October 15, 2025

Bears Hit Another Speed Bump for New $5B Stadium in Suburbs

A new state bill would impose several conditions on the NFL team.
Sponsored

How Jenny Just Is Shaping the Future of Sports Ownership

Jenny Just on bringing her investment experience to sports ownership.
Nov 17, 2024; New Orleans, Louisiana, USA; Detailed view of a Cleveland Browns helmet on a time out against the New Orleans Saints during the first half at Caesars Superdome.
October 7, 2025

Cleveland Takes New Shot at Blocking Browns’ $2.4B Stadium

A new lawsuit challenges a permit for the NFL team’s planned stadium.
October 7, 2025

Rays Owner Eyes New ‘Forever Home’ Like Atlanta’s Battery

The club’s new owners target a new ballpark opening in 2029.
Sep 23, 2025; Dallas, Texas, USA; Dallas Stars forward Adam Erne (76) looks on during the game between the Dallas Stars and the Minnesota Wild at American Airlines Center
exclusive
October 3, 2025

Dallas Stars Eyeing Possible Move to Plano in 2031

The team needs to figure out where they’ll play starting in 2031.
Chicago Bears stadium rendering
October 1, 2025

Bears Want $855M in Public Money for Suburban Stadium

The NFL team details an updated ask for public money.