Ted Leonsis Set to Become Majority Owner of Washington Wizards

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Ted Leonsis Set to Become Majority Owner of Washington Wizards
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What Abe Pollin started and grew within the District as a respectable sports entertainment option, Ted Leonsis will likely flourish into a championship contender. The owner of the Washington Capitals, by way of a special deal with Pollin upon his purchase of the NHL franchise, is poised become the majority owner of the Wizards.

For nearly a decade, a plan has been in place to ensure that the Washington Wizards remain locally owned. Washington Capitals owner Ted Leonsis holds the right of first refusal for any transfer of ownership.

Under the plan, Leonsis likely will take over majority ownership of Washington Sports & Entertainment, which includes the Wizards, Verizon Center and the area’s Ticketmaster franchise. The transfer would make Leonsis the only person with majority ownership of an NBA, NHL, and WNBA team and a major sports arena.

I have no doubt that the classy and innovative Leonsis has the savvy and karma to make the Wizards a true player in the Eastern Conference. And he’s not a bad writer, as evidenced by his tribute post to Abe Pollin on his blog.

Of course, Leonsis will likely take his time before making any kind of move to buy the team public. Pollin should be respectfully mourned and appropriately remembered throughout the duration of this season, at least. But rest assured, should Leonsis take the reigns of this franchise, the direction will be one all Wizards fans can have confidence in.

Technorati Tags: Abe Pollin , Ted Leonsis , Washington Wizards

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