Ted Leonsis's path to Wizards ownership in doubt
When sports entrepreneur Abe Pollin died in November, it seemed all but certain that Capitals owner Ted Leonsis would purchase the Washington Wizards and Verizon Center en route to building a D.C. sports empire.
In a statement released Nov. 24, Leonsis said that when his company, Lincoln Holdings LLC, bought the Capitals in 1999, "[Pollin] gave us the exclusive right to purchase the remaining portion of the Wizards, Verizon Center and the local Ticketmaster franchise."
Now, however, that exclusive right seems less certain. From Post business reporter Tom Heath:
Ted Leonsis has no exclusive right to purchase the NBA Wizards and Verizon Center, the holding company founded by the late sports entrepreneur Abe Pollin told employees in a memo Tuesday, throwing into doubt the future ownership of one of Washington's biggest sports empires.
The memo goes on to say that "there is no existing limitation" on the Pollin estate to solicit other potential buyers for the assets of Washington Sports & Entertainment, which includes the local Ticketmaster franchise.
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