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 Verizon Center in Washington, D.C., and other assets.

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.