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Questions for Ted Leonsis' press conference

24

So Ted Leonsis is holding a press conference today at the Verizon Center with his partners, presumably to discuss his purchase of the Wizards and Washington Sports and Entertainment.  It sounds...

It's official! Ted Leonsis is the new Wizards' owner!

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Great news today, via Howard Beck of the New York Times. NBA board of governors unanimously approves sale of the Wizards to Ted Leonsis, the league announced.     Congratulations to Ted, the team...

Suggestion Thread for Ted Leonsis, version 2.0

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A while back, morethesamewiz posted a FanPost to act as a suggestion box for Ted Leonsis once he inevitably became the new Wizards owner.  I can't seem to find the post, so we're going to start...

Ted Leonsis finalizes deal to become new Wizards owner

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Just got this from the Washington Post: The Abe Pollin family has finalized a deal with Washington Capitals owner Ted Leonsis to sell him the family's share of the Washington Wizards and Verizon...

"The way that he could sell the Caps was to make this agreement that upon his death, Ted would have...

9

"The way that he could sell the Caps was to make this agreement that upon his death, Ted would have certain rights," Robert Pollin said. "Our side, in my opinion, is certainly honoring Ted's rights in spirit and to the letter. I don't think of it as the team is for sale. We are certainly fulfilling everything that my father and Ted and his partners agreed to. And where it ends up, you never know in a negotiation until a negotiation is over."

Robert Pollin on the impending sale to Ted Leonsis. I'm having trouble figuring out if this means anything - he might just be saying it's not a classic sale because Abe and Ted agreed on the parameters of the negotiations already - but it's definitely the kind of quote that takes you a few minutes to figure out.

"I watched the Wizards game last night," he noted. "I was very pleased. It didn't go the team's way...

14

"I watched the Wizards game last night," he noted. "I was very pleased. It didn't go the team's way at the end, but boy, young kids, lots of energy, playing with heart and passion. We're in very productive conversations with the Pollin family and estate and I won't change my messaging: we already own 44 percent, we have lots of rights, the conversations are positive. And I'm expecting that sometime, hopefully soon, we'll be announced as the majority owners of the team, and we'll do our best to continue to build a team that everyone's proud of."

Ted Leonsis to the Sports Junkies on 106.7 the Fan, via Dan Steinberg. Nice!

I was very surprised to read in the paper today that the Executors of Mr. Pollin’s Estate are a...

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I was very surprised to read in the paper today that the Executors of Mr. Pollin’s Estate are attempting to find a way around the appraisal process Mr. Pollin put into place for my partners and me-and only my partners and me — to pay fair market value for the portion of the WSELP properties we don’t already own. We were even more surprised to see that a memo was circulated to WSELP employees (and keep in mind I already own 44% of WSELP) that didn’t even mention the appraisal process that Mr. Pollin agreed to more than 10 years ago and that the Pollin estate (through their lawyers) have committed to in writing. I’m sure this must have been an oversight on their part.

via Ted Leonsis' blog, Ted's Take

Post: Leonsis' Path To Ownership In Doubt

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No no no no no no no no NO! Leonsis still has the right to match any outsider's offer for the team (kind of like the team is a restricted free agent to him, to use a basketball analogy), but the two sides are supposedly $100 million apart, which is a pretty healthy sum of cash. Please work it out, guys! UPDATE: Here's the Washington Post story that ran in the A section today. Thanks to RamV for the link.

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