Thursday, March 25, 2010

Ted Leonsis now owns all of Washington! Sports that is...


Ted Leonsis is now, well if not the, one of the most powerful people in Washington D.C. Not only is he the owner of the Washington Capitals Hockey team...he's now reached an agreement with the estate of the late Abe Pollin, to purchase the Washington Wizards and the Verizon Center as well.

The deal is valued somewhere around $550 million though it won't actually cost Leonsis that much since he was already a part owner of the arena.

More from the Washington Post...RIGHT HERE

((Leonsis with his meal ticket//Courtesy: Mitchell Layton/Getty Images))

This should be an interesting...and a good deal for Leonsis. Though the Wizards are not particularly good, the Capitals are one of the NHL's best teams. The big prize is the arena. Though there is still money owed on it, the facility gets tons of use.

Apparently the Capitals were not getting money from the Luxury and Club suites...which would help pay some of the bills too.

Barring any major setbacks, the 23 of the 30 NBA owners need to approve the deal. Apparently, so does the U.S Justice Department...hmmmm.

In the meantime...Check out this kids dunk contest at the Verizon Center during a Wizards game. Thanks You Tube:


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