• Loading stock data...
Wednesday, June 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

Panthers Repeat as Stanley Cup Champs, Buoyed by Bold Deadline Move

The second consecutive Cup helps cement the South as a hockey stronghold.
Jun 16, 2025; Omaha, Neb, USA; Arkansas Razorbacks starting pitcher Gage Wood (14) celebrates completing a no hitter against the Murray State Racers at Charles Schwab Field.

College World Series Enters Cinderella Era

A series of upsets gives the fast-growing event a new look this year.
Ippei Mizuhara

Ohtani’s Ex-Interpreter Ippei Mizuhara Reports to Prison After Delays

Mizuhara’s 57-month sentence was supposed to begin in March.
Lydia Ko

PGA Championship Ties U.S. Open for Richest Purse in Women’s Golf

This week’s tournament will offer $12 million in prize money.

Featured Today

Dec 5, 2024; Miami, FL, USA; FIFA president Gianni Infantino presents the FIFA Club World Cup trophy during the Club Word Cup draw at Telemundo Studios.

Revamped Club World Cup Is FIFA’s Billion-Dollar Gamble

The revamped soccer event debuts amid controversy.
Jun 10, 2025; Nashville, Tennessee, USA; United States head coach Mauricio Pochettino stands during the anthem against the Switzerland during the first at Geodis Park
June 14, 2025

Gold Cup Is Complicated for USMNT—but U.S. Soccer Has Its Eyes on..

Uncertain tournament success isn’t fazing forward-looking U.S. soccer.
Jan 24, 2017; Davidson, NC, USA; The Davidson Wildcats student section cheers during the first half against the Duquesne Dukes at McKillop Court at John M. Belk Arena. Davidson defeated Duquesne 74-60.
June 6, 2025

Every College Wants a Flashy Basketball GM Hire Right Now

The role is more important than ever, and the definition is ever-evolving.
August 31, 2024; Columbus, Ohio, USA; The Goodyear blimp flies over Ohio Stadium during the first half of Saturday’s NCAA Division I football game between the Akron Zips and the Ohio State Buckeyes.
June 6, 2025

Why the Goodyear Blimp Is at Every Major Sports Event

The airship wasn’t built to cover sports. Now it’s a regular presence.
MLS Chicago Fire FC stadium rendering of hero visual

Chicago Fire Planning $650M Stadium As Bears, Sox Projects Stall

The MLS club unveils designs for its planned 22,000-seat stadium.
June 12, 2025

$3.8B Commanders Stadium Deal at Risk Over Political Rift

D.C.’s mayor and council chair spar publicly over the proposed football stadium.
June 12, 2025

$2.4B Browns Stadium Plan Clears Hurdle With $600M State Backing

Legislative support for the stadium plan is clear, but more hurdles remain.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Ted Leonsis unpacks basketball’s global rise, media rights, and portfolio ownership.
June 11, 2025

Missouri Approves Chiefs, Royals Stadium Funds Despite Intense Debate

A funding measure passes easily after hours of often-tense debate.
May 27, 2015; Paris, France; Mirjana Lucic-Baroni (CRO) knocks the clay off her shoe during her match against Simona Halep (ROU) on day four of the French Open at Roland Garros
June 4, 2025

Roland-Garros’s Iconic Red-Clay Surface Is a Precise Alchemy

The exact science behind maintaining the French Open’s red clay.
Soccer
June 3, 2025

Chicago Stars Aren’t Asking for Taxpayer Stadium Money—Yet

A unique new law will compel Illinois lawmakers to consider women’s teams.
June 3, 2025

While Bears and White Sox Stall, Chicago Fire Make Stadium Move

The proposed $650 million stadium will be privately financed.