• Loading stock data...
Tuesday, June 25, 2024
Meet the Rising 25 Class of 2024!

Wizards, Capitals Owner Reportedly Bid Over $2B for Nationals

  • Ted Leonsis reportedly bid more than $2 billion for the Washington Nationals.
  • The team sale is on hold due to legal disputes around its regional sports network.
Ted-Leonsis
Geoff Burke-USA TODAY Sports

Ted Leonsis reportedly made a serious offer for the Washington Nationals and could still wind up with the team.

The owner of the Washington Capitals, Wizards, and Mystics attempted to add to his sports empire in the nation’s capital late last year with a bid over $2 billion, according to the Washington Post.

The Lerner family took the team off the market earlier this year as it navigates lawsuits and negotiations related to MASN, the regional sports network the team shares with the Baltimore Orioles. The family was looking for something in the neighborhood of the $2.4 billion that Steve Cohen paid for the New York Mets, per the Post.

Commanders sale awaits to be finalized.

With $6B Commanders Bid In, All Harris Can Do Now Is Wait

Executive Mark Ein has been added as a limited partner in the…
April 19, 2023

As compensation for the Nationals moving into their area from Montreal in 2005, the Orioles hold a 67% share in MASN, a unique arrangement that has made it more challenging to value the team in sales talks.

The two teams are locked in a court battle over rights fees paid by MASN to the Nationals from 2012-16. The team was paid $197.5 million but is arguing that it was owed $475 million. Leonsis reportedly offered to buy MASN as part of the deal. 

Clarity on an appropriate price for the team may be easier to find once the legal dispute is resolved.

Leonsis remains in touch with the team, which is still expected to be sold at some point.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Mets Owner Buys Chunk of Knicks Owner’s Las Vegas Sphere

Cohen made the investment through his hedge fund, Point72.

Marlins’ Free Streaming Offer to Fans Highlights RSN’s Financial Issues

The MLB club offers local fans two months of free streaming of its live games.

Scheffler’s Season Earnings Could Surpass Top NFL, NBA, MLB Stars

The golfer has already won more than $27 million this season.
podcast thumbnail mobile
Front Office Sports Today

How the American Soccer Fan is Unlike Any Other Sports Fans

0:00

Featured Today

Jan 3, 2022; Pittsburgh, Pennsylvania, USA; General view of the NFL shield logo signage before the Pittsburgh Steelers host the Cleveland Browns at Heinz Field.

Odds Stacked Against NFL in Multibillion-Dollar Sunday Ticket Trial

Why the class action trial does not look promising for the league.
Jan 7, 2024; San Francisco, California, USA; Toronto Raptors forward Jontay Porter (11) takes a three-point shot against the Golden State Warriors during the second half at Chase Center.
June 9, 2024

‘Bound to Happen’: The Age of the Sports Betting Scandal Has Arrived

A banishment, betting scheme, and guilty plea all in one scandal-filled span.
June 8, 2024

‘Experimental in Nature’: The Rapid, Confounding Rise of Streaming Bundles

Here’s why confusion continues to outweigh solutions in the streaming package boom.
June 2, 2024

The Nostalgia Market: Michael Jordan’s Memorabilia Remains Coveted, With Caveats

Due to scarcity, and sometimes, items’ undisclosed whereabouts, this world has limitations.

‘Baseless Corporate Conspiracy’: Hedge Fund Heats Up Feud Between NBA Owners

The Mat Ishbia–Dan Gilbert feud has exploded into view this week.
March 14, 2024

Chiefs’ President Threatens Team Could Leave Kansas City If Voters Don’t Give It Money

The Hunt family’s cheapness continues to show after Super Bowl title.
March 25, 2024

Tony Clark Appears to Be Winning Fight Over Baseball’s Union

Some players had recently called for the removal of Clark’s top negotiator.
Sponsored

How HOKA is Reimagining the NIL Relationship

HOKA, the renowned athletic footwear and apparel brand, is betting on a new reality with NIL.
IRS
February 15, 2024

IRS to Start Auditing Sports Owners

Audit increase comes with the agency’s increased enforcement budget.
Theo Epstein
February 2, 2024

Theo Epstein Returns Home, Joins Fenway Sports Group

The 50-year-old will serve as a senior adviser to the ownership group.
January 24, 2024

Former Tottenham Owner Pleads Guilty to Insider Trading Charges

Tottenham is worth $2.8 billion and owned by Lewis’s family trust.
Mark Cuban and Dallas Mavericks.
November 28, 2023

Adelson Family Freed Up $2B To Reportedly Buy Stake In Dallas Mavericks

Miriam Adelson is selling a portion of her Las Vegas Sands Corp stock.