Leonsis Takes Over Wizards
Ted Leonsis and partnership group Monumental Sports & Entertainment completed the purchase of the NBA’s Washington Wizards June 9 from the estate of the late Abe Pollin.
MSE reportedly paid abut $310 million to buy the team, its home court
The group already owns the NHL’s Washington Capitols and the WNBA’s Washington Mystics and had a 44 percent stake in the Wizards as well as the arena.
MSE’s assets reportedly total about $825 million.
Closing the deal will also allow Leonsis to direct revenue from the 10,320-capacity Verizon Center to the teams.