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Ted Leonsis signs purchase agreement for the Wizards

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Ted Leonsis is one step closer to owning the Wizards and the Verizon Center.  

Washington Post's Breaking News Blog reports that Leonsis has signed an agreement to buy the remaining 56% of the Wizards and the Verizon Center.  All Ted has to do now is get everything lined up with his lenders and get approval from the other NBA owners and the team is his.  Just think, we're now only one step away from turning a long-known formality into reality.

As long as everything holds to form, Leonsis should be in firm control of the team in time for the 2010 off-season, which would obviously be the best thing for Leonsis, the Pollin family, and everyone else involved in this transaction.