It’s Official: NBA Approves Sale Of Wizards To Ted Leonsis
Leonsis’ group will now have full control of the Wizards, the Mystics and Washington Sports and Entertainment, which owns the Verizon Center.
For more, visit SB Nation’s Wizards blog Bullets Forever.
Read Article >Statement: Abe Pollin Family Agrees On “Major Economic Terms” Of Sale Of Wizards To Ted Leonsis
The Washington Post has the full statement from the Abe Pollin family announcing that the sale of the Wizards to Ted Leonsis has been finalized.
The family also paid tribute to the late Abe Pollin in the statement, as well as all the people who worked under him.
Read Article >Ted Leonsis Finalizes Deal With Pollin Family, Will Become New Wizards Owner
It’s official: Capitals owner Ted Leonsis is now also the new owner of the Washington Wizards. The family of former owner Abe Pollin released a statement saying their deal with Leonsis has been finalized, according to the Washington Post.
SB Nation’s Wizards blog Bullets Forever has a one-word response to the news.
Read Article >Ted Leonsis Agrees On Price To Purchase Wizards
Leonsis’ is paying approximately $170 million in net value to purchase the remaining 56 percent of the team and the arena, according to sources. The value of the team and the arena is pegged at $550 million.
Sources caution that the agreement isn’t final because the two sides still need to agree on non-financial issues such as building operations.
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