Six months ago, the Lerner family announced they were exploring the possibility of a sale of the Nationals. As the offseason nears, some clarity has emerged on that process. David Aldridge, Britt Ghiroli and Ken Rosenthal of the Athletic write that a group led by businessman Ted Leonsis is now the “clear front-runner” to eventually take over the Nationals. The Talk Nats blog first reported in late September the Leonsis group had broken through as the most likely party to buy the Nats.
Leonsis is already a key factor in the D.C. sports scene, as his Monumental Sports & Entertainment owns the NBA’s Wizards, the NHL’s Capitals and the WNBA’s Mystics. (The Lerners are a minority owner in that venture). Landing the Nationals would give Leonsis control over the D.C. franchises in three of the four major men’s sports leagues, The Athletic notes, a distinction currently only held by the Kroenke family that owns the Los Angeles Rams, Colorado Avalanche and Denver Nuggets. Leonsis isn’t mounting a solo ownership bid, however. The Washington Business Journal reported in August that private equity businessman David Rubenstein is also part of the group; it is unclear whether anyone else is involved.
Previous reports have also linked South Korean businessman Michael B. Kim and mortgage mogul Stanley Middleman to the sales process. There were reportedly upwards of five bidders in talks with the Lerner family at one point, but The Athletic reports that Leonsis’ group seized control roughly a month ago.
While it appears that Leonsis and company are now in the driver’s seat to push the deal across the finish line, the closing of the sale isn’t imminent. Aldridge, Ghiroli and Rosenthal hear the sale isn’t likely to be finalized before the December 4-7 Winter Meetings in San Diego. That appears to be the more optimistic end of the timetable, as The Athletic writes it’s possible the sale isn’t finished until after the calendar flips to 2023.
As The Athletic notes, Leonsis also controls his own regional sports network, NBC Sports Washington. Monumental Sports & Entertainment had previously purchased 33% of NBC Sports Washington, and it bought out NBCUniversal’s 67% share this past August. Not coincidentally, NBC Sports Washington holds the local broadcasting rights to Capitals, Wizards and Mystics games.
The Nationals’ local broadcasting contract currently runs through the Mid-Atlantic Sports Network, which it shares with the Orioles. The Orioles own approximately 75% of the network, while the Nationals own the remaining share. The two franchises have been embroiled in rights fees litigation for the better part of a decade. The Washington franchise won a major victory in 2019 when an arbitrator ruled the Orioles owed the Nats $105MM. The Baltimore organization appealed that decision, and the matter has still yet to be decided by the New York State Court of Appeals.
While The Athletic notes it’s unclear how or if the sale of the Nationals would affect the MASN dispute, Talk Nats tweeted in August that Leonsis’ group would be interested in reaching a settlement with the Orioles to buy out of the MASN deal. If that did come to pass, the Nationals would presumably then be broadcast on the NBC Sports Washington platform. That’d obviously be a complicated process that requires negotiations with the Orioles, but it does seem to offer a glimmer of hope for a resolution to the saga.
The Lerner family first bought the Nationals in 2006, paying $450MM. The specific prices under consideration in their sale aren’t clear, but Daniel Kaplan of the Athletic wrote last month they were seeking $2.5 billion.
I don’t see this as a good thing. These multi-team, multi-sport owners (especially with teams in different states) likely won’t have any local priorities, to the city or it’s fans. Moreover, this is also likely to be ownership-for-profit on steroids.
Cash in another vote for the salary cap crew (which is ineffective outside of generating a greater profit margin).
“Leonsis is already a key factor in the D.C. sports scene, as his Monumental Sports & Entertainment owns the NBA’s Wizards, the NHL’s Capitals and the WNBA’s Mystics.”
Seems like he already has local priorities.
Soooo, those teams are perennial winners? Or winners at all? You’re just asserting that owning multiple teams in different sports is good for the area. That doesn’t make it so.
Nice try.
Wasn’t a try. Honest question. That doesn’t make them good for the sport or city because they buy a team as opposed to someone else. You simply gave facts about them owning other teams based out of the city in other sports.
I argue that more often than not ownership groups/families that own multiple teams are able to provide less effective teams. I pointed out a relevant example of their other teams’ performance, which is precisely what I’m talking about.
Perhaps I am wrong, but you restating they own multiple teams, which is the substance of my very point, is not a counter.
None of this means I don’t respect your opinion either, because I do.
The Caps won a the Stanley Cup in 2018, the Mystics won the WNBA Championship in 2019. But, the most important thing is Leonsis is not a meddling owner. He allows the people delegated to run the franchises do their job.
There are good owners and bad ones, and with Leonsis being one of the good ones, I don’t see anything negative about his partnership owning the Nat’s. In fact, if it can resolve the unfair MASN situation, the Nat’s and the City of Washington, will be the better for it.
I do hope you’re right, tad, and I appreciate the info on him as an owner. Baseball needs better owners, not worse. If he’s a good owner for baseball, the better for the Nats and baseball all-around.
I’m not familiar at all with them or how they’re managed as a whole. We shall see, and hopefully he will revitalize that team.
Yeah, I hope I’m right too. But, I’d wish for a good owner for every team, even the ones I actively root against. The sport is better with good owners. I’d even like to see Leonsis buy the Commanders away from Dan Snyder; him being one of of the worst owners in sports.
Leonsis and Rubenstein are well-respected fixtures in Washington – local leaders in business and philanthropy for decades.
Nats fans have known Leonsis since his AOL days. He’s well-funded, smart and civic-minded. So is Rubenstein.
I’d be happy to have Uncle Ted at the helm.
@tad Dan may be a crappy owner but the worst owner is Spanos (Chargers owner), build me a stadium with your own money San Diego or I’ll cry about it and leave your city that had your back for a long time. Screw Spanos, piece of garbage
The Capitals won the Stanley Cup in their only appearances this century in 2018. Their only other appearances was a loss in 1998. The Wizards last appearance in the NBA finals was in 1974-1975 when they were still the Bullets. The men’s franchises are not perennial winners.
That doesn’t make them good for the sport or city
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I’m not sure what that is supposed to mean. Theoretically, doesn’t a sports team operate on behalf of themselves? And does it really matter exactly where the owner lives?
Well, what I meant (which has obviously been misinterpreted) is that many MLB owners of only one team typically prioritize profits over putting a winning product on the field for the fans and the game, ie: Pirates, Rockies, Orioles, and the other obvious teams. Owners of multiple teams, even more so.
My overarching point is: owning multiple teams tends to divide attention even more. It also naturally becomes even more about [profit only] because passion for winning in one sport is difficult enough to generate within ownership groups.
None of the above is good for the sport or the fans (the “city” in my above comment). If this owner is different that’s fine. If it takes 20 years of non-competitive teams to get one winner that’s probably not good for the fans (the “city”) or the sport. The counter to my comment was that he owns multiple teams, which isn’t a counter at all. Baseball needs better, more competitive owners, not less.
What my point isn’t: 1) a moral argument about owners seeking profit for themselves or their group, and 2) a debate about whether he actually owns other teams (which is obvious).
Not sure why being a perennial winner is any kind of criterion for who is a good owner.
The Caps have a Stanley Cup in the last 5 years. The Hurricanes also have only one this century, as do the Red Wings. The Rangers haven’t won one since 1994, the Oilers not since 1990, the Flames, not since 1989, and don’t even mention the Maple Leafs.
The Stars, Ducks, Flames, Blues, and ‘Canes also have only one Cup in their histories. And there are 11 teams to have never won a Cup. The Caps’ record is not much of a pejorative.
The Wizards are the perfect example of Leonsis letting the people run the team without his meddling, and he’s allowed them to do so even though they’ve done a terrible job. The failure of the Wizards is not any kind of an indictment against Leonsis. Plus, the NBA is a salary cap league (like the NHL), so not spending big, like what happens in MLB, is a non-issue.
Tad, I’m not sure if this is in response to mine or not because of how jumbled up the comments get. My comment was in response to another one though. Anyway, I get your point, and Like I said, I hope he’s not one who tries to operate like the many bottom feeders in MLB for the fanbase’s sake. They have won recently, which is good. The Rangers may not have won the Cup, but they remain competitive (or perennial winner) more often than not in a budget-capped league.
You’re correct about the other leagues being different financially too. That’s why it’s even more important that the owner be fully committed in MLB. It’s easy to run out a $100MM team and call it a day. That’s house money.
I guess time will tell, but it seems as though this ownership will be good from what you’ve written, so that’s better for baseball.
Hey Clip, sorry, this post wasn’t in response to you. @outinleftfield made the comment that the Caps had only one Cup win, and cited the woeful Wizards, and I was responding to him. I should have noted that.
The Caps are like Rangers in that they are usually competitive, They have 3 president’s trophies.
I take your point, and I, like everyone else, don’t really know how the Leonsis stewardship will work out. Obviously I’m optimistic, since I see the example of his willingness to pay Ovechkin to keep him in a Caps’ sweater.
Dude. The Caps, Wizards, and Nationals ALL play in DC. And two of the three teams have won a championship in the last five years.
Did anyone suggest any of those teams were not playing in DC, Papabueno?
See Chris Illich on how to make an entire city, and everyone associated throughout the entire world, feel like carp……
He obviously doesn’t care. It’s all about.the.money, baby.
Who loves.you?
Telly Savalas has been gone a long time,now. Nobody and nobody cares. Reality bites. WE ARE NOTHING BUT PIDEONS!
Yes. You did!! “ These multi-team, multi-sport owners (especially with teams in different states) likely won’t have any local priorities, to the city or it’s fans.”
That’s a qualifying statement. Never did I say those teams were in different states. The parenthetical was a separate, additional qualifier making an overarching point. If you’d bother to read the statements beyond my initial comment you could’ve avoided the embarrassment of misinterpreting an obvious qualifier.
Nonetheless, the point stands. Reread what you wrote and tell me where I said any of those teams played outside of DC, or that this specific owner owns teams outside of DC. That’s right, I didn’t.
You’re late to the party and repeating the same jokes….it’s not funny or clever. But, you do you fella.
“I don’t see this as a good thing. These multi-team, multi-sport owners (especially with teams in different states) likely won’t have any local priorities, to the city or it’s fans.”
Your initial comment clearly states that you think the Leonsis ownership group would be bad because they “won’t have local priorities” and you added the “especially with teams in different states” to reinforce your point.
You also made another post where you asked if the teams we “winners at all?”, clearly indicating that you didn’t know that the Caps won the Stanley Cup, and the Nationals won the World Series.
I’m not trying to be funny, or cleaver. I’m simply disagreeing with your comment, which was either based on a lack of knowledge about DC sports, or just poorly written.. I can see that I’m also not alone, with several others calling out your comments, and I can see you backpedaling.
You can take your snarky attitude and……..
Uh, wrong, it says OWNERS, plural. It’s an overarching point. Yes, I knew the Nats won in ‘19. No, I didn’t know, nor do I care about WNBA. The Caps winning five years ago? No, I didn’t watch hockey then, and haven’t in about 15 years.
So, since I only watch baseball, and some football, I asked that question about those teams winning. You think you outsmarted someone, but you just failed to use basic reading comprehension. Plus, there’s no snark. It’s a correction based on your condescension.
Bottom line, don’t try to insult someone else when you can’t comprehend what that person wrote in the first place. Again, I never said those teams weren’t in DC, and you rewriting my comment several times doesn’t make it so.
Yes, I knew they were. You can’t accept that. Looks like it’s your problem, not mine. No hard feelings, just stop trying to make a point that doesn’t exist.
I’d say you’re right Clip. But I’d also guess that almost anyone purchasing a team in the NL East is going to favor a cap. Very few owners take the Cohen approach and most would be happy to keep Cohen from using his approach as well.
The MLBPA mostly controls the salary cap issue and they have no interest in it. Of course, the bigger issue is the lack of a salary floor, which if instituted will require a significant increase in revenue sharing from the bigger-market teams. They’ll be against it, for obvious reasons.
That’s a great point, Don, in both respects.
The Kroenke ownership of the Rams(Super Bowl win), Avalanche(Stanley Cup(champs) and Nuggets says ownership of teams in multiple sports can work.
Hence, my use of the word, “likely.” Of course it can work. But how many owners will be committed to winning in baseball. Contrast this verses Cohen, who owns the Mets. He focuses on one sport in NYC, where his efforts go.
The larger the ownership, the more diffuse the priorities/effort of winning. Perhaps it works, but I certainly hope for the Nats sake you’re right.
The Avalanche and Rams are both the defending champions of their respective sports…why does it matter that the owner of the franchises doesn’t have local ties or whatever nonsense? The product on the field (ice?) is successful.
I didn’t say local ties. But when they own multiple teams of multiple sports, especially if those teams are in different cities from one another, owners aren’t committed to winning it all, typically.
To better clarify, there are enough owners in baseball not committed so winning, and they only own one team. They have one goal, essentially, in that the ultimate goal should be to win.
Owners with multiple teams aren’t going to prioritize multiple championships, typically, when most can’t even fully commit to winning one. If said teams are spread out, it would be worse, naturally.
owners aren’t committed to winning it all, typically.
To better clarify, there are enough owners in baseball not committed so winning,
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Are there actually stats available to suggest that owners of multiple teams are less committed to winning? Intuitively, I would have thought it just the opposite. Someone putting together a sports empire would have their success based on their teams’ success.
IRT to not everyone wanting to win, I’d bet real money that all 30 owners want to win. Some cannot due to low cash flow, and some simply aren’t as smart. But I would equate that to not wanting to win.
“Wanting” is a poor choice of words because it speaks of feelings, so my bad. What I’m talking about is the commitment and financial contributions to win. Owners of single teams win more often than owners of multiple sports teams, so my counter would be that plenty evidence exists, and repeats, each season in each respective sport.
Again, I admit I could be wrong, but I think people assuming someone/group with a lot of money purchasing a team automatically is a good thing may not feel the same way in a decade. Take Diamondbacks fan, for example. If says he’s happy, as a fan of that team, he’s probably not being honest. I’d bet if he could have an owner even more committed to winning and committing more resources to the team, he’d jump at the chance.
If he can broker a deal to get off MASN, he will already be a good owner. I can’t imagine, he, of all the prospective owners doesn’t have a plan to deal with MASN.
The new ownerships first priority baseball wise should be to completely revamp the way the team handles pitching. Get an up-to-date philosophy, purchase the equipment necessary to work with their pitchers, and hire in pitching personnel that are experienced in modern methods of developing and working with pitchers.
Gads, they’ve ruined just about every pitcher they brought in – with the exception of Max. Doesn’t matter how good their D and hitting is (and success starts with strong D) – ultimately winning in MLB is about pitching! Lot’s of it.
Monumental Sports is building an over-the-top platform that’ll allow cord-cutters and cord-nevers to watch Monumental’s teams. Such is not insignificant given the slow-motion collapse of the regional sports networks. The NBC name remains on the Capitals/Wizards RSN for now.
As well, since MLBTR thinks soccer is a minor sport, Washington has 5 major men’s pro teams (not 4) — D.C. United play in Major League Soccer. The Kroenke family also owns Arsenal F.C. in England and the Colorado Rapids in MLS.
Nobody cares about soccer you doofus
More people can identify Cristiano Ronaldo than they can identify Juan Soto.
I’d make a reasonably sized wager that more Americans know what team Soto is on than what team Ronaldo is on.
WHO is Cristiano Ronoldo?
Soccer player? Really? Don’t care…..
Based on the tradition of kicking around your enemy’s severed head…..
Real cool.
Completely UNAMERICAN!
Created by unGodly savages………
Civilized people don’t play games by pretending to kick your enemy’s head around.
That’s why Europe socks and keep getting into.wars.
Their poor kids are brainwashed by playing kick your enemy’s head around….ie football/soccer.
Not just MLBTR, most of the U.S. considers soccer a minor sport.
Cristiano Ronaldo walked out of Manchester United’s game on Wednesday because he refused to come on as a substitute. As a result United dropped him from their squad for their game this weekend. The story made ESPN and CBS Sports.
You wouldn’t see that story appear in major US sports media 10 or 15 years ago.
I don’t know who is at SS for NY right now but the guy is a solid defender!!
Oswald Peraza, Yanks top prospect
Y2K, Thanks for the reply/info! Had not seen the guy till today. Already looks like a winner in my book!
Orioles fan that lives off I-95 close to both DC and Baltimore. Not a Nats fan but followed them anyway. Loved the Lerner’s aggressive desire to win and to plunk money down to win. Some lean years now, but the majority were not. IMHO the next owner/ownership group has some big shoes to fill.
Who is your team C Yards?
@TrumboJumbo; Os but follow MLB in general. You?
Nice. Halos and Dodgers but I try and follow all the good players.
Love this site. Quality writers, thoughtful discourse. Not much trolling going on. Grateful for all.
This is why you don’t use taxpayer funds to support sports franchises.
regional sports conglomerates shouldn’t exist especially when a significant portion of their value is tied to public land that exists in expensive urban markets.
How can you afford like 5 franchises but not a place for a single one to play inside?
Teams that own their own venue are an extreme minority.
“How can you afford like 5 franchises but not a place for a single one to play inside?”
You could turn that around to; how can you own only one team and not provide a place to play? It would be a lot easier to own the venue when you have to provide only one, not 5.
Who is 1st in line for the Anaheim Angels?
The first runner up for the Nationals?
Lacob and that Chinese doctor are who I heard for the Angels.
Dr. Patrick Soon-Shiong is the front runner. He owns the LA Times among other major publications on the west coast and is a partner with Steve Cohen in other business ventures. Joe Lacob and a group of the Golden State Warriors owners are also in the mix. Ballmer and Kroenke are not.
What gets finalized first? Nats sale or the Nats / Baltimore territorial rights dispute.
Nats sale.
Sadly, I must concur.
Ted Leonsis has the money and clout to get Peter Angelos out of the Nats’ hair, once and for all. He’s won a championship with the Caps. He’s a winner. Go Nats!
Ted is the type of leader we need. He will not tank, but he likes to build. If he doesn’t make too many mistakes, like not trading Beal and not giving him the MAX contract he will never live up to, ever. Try hard every day and even the Nats win the World Series! Best scenario I have come across yet.
It would be better if he bought the Orioles since they own the dumpster fire that broadcasts the TV games. Having a competent media company rather than a petulant slum Lord running MASN would be great for both Baltimore and Washington.
Sounds like they cut out the Middleman.
Leonsis is a petty, jealous schmuck but other than that, he’s a good owner.
Did the Lerners make the first announcement the team was for sale or did Scott Boros?
If anyone knows anything about the Wizards, they would know this is more likely than not to be a disastrous idea. Leonsis is exceedingly content with mediocrity, although I suppose that’s more palatable in baseball so long as one could sneak into the postseason. Still, he is not an owner anyone should feel confident in supporting a winner. All he cares about is doing the minimum to maintain his bottom line.
Washington Capitals….Stanley Cup Champions
Is the 5X selling price the new benchmark for value of a sports franchise? Won;’t belong before few can afford seats. Hard to imagine spending hundreds for a seat where most players can;t hit .250 .
Seeking $2.5B is not getting $2.5B.
Past that, the return is not that crazy compared to the returns on a lot of other things. $100 invested in the S&P 500 in 2006, is worth $411 today.
I’ve read many comments left around the point of if a owner / group owns multiple pro franchises, will they milk profits and not be the best winning for the MLB team… Having lived innDC/VA area for over 29 yrs and seen the. NATS since they came back, the Lerners were terrible owners, especially post 2019. Leonsis is a good prospective potential new owner. But only if he commits to sustaining the NATS as a winning & playoff franchise (sign good players & spend $). HOWEVER: Leon’s is’ teams haven’t won championships or Divisions much or consistently. Lastly, a FACT: the best MLB teams today do not have ownership that owns multiple Major league teams (NBA, NFL, WNBA or MLS). There is a reason, obviously !
NHL
I have also lived in the DMV for 30+ years, and been a Nationals fan since inception.
As you’ve pointed out, just about any owner would be an improvement over the post WS Lerners.
If Leonsis can get us out of the MASN debacle, and create a consistent broadcasting revenue stream, we’ll be in a much better position to increase the payroll.