Leonsis Could Take Over The Wizards

In the wake of Washington Wizards ower Abe Pollin passing away, Ted Leonsis could takeover the team.

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.

If Leonsis takes over the Wizards, he would become the only person with majority ownership of an NBA, NHL and WNBA team plus a major sports arena. If he somehow bought the Redskins too, D.C. folks wouldn’t complain.

via Washington Times

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