As Washington, D.C., and the NBA community mourn the loss of Wizards owner Abe Pollin, the future of the franchise sits in question. Unlike the situations in Salt Lake City, Detroit and Indiana, where NBA team owners have also passed away in last nine months, the Wizards will apparently not stay in the family.In 1999, when Pollin sold controlling interest of the NHL's Washington Capitals to AOL executive Ted Leonsis, he also handed over a minority interest in the Wizards, which included a clause giving Leonsis the first option to buy the team if Pollin chose to sell.
Leonsis is a serious basketball fan, and was said at the time of the Caps purchase to be very interested in owning the Wizards, even attempting to purchase the team outright during those 1999 negotiations, according to reports. Pollin, however, wanted to hold on to the NBA team.
In a statement released by Leonsis through the Capitals late Tuesday, the apparent heir mentioned his plans to follow through with the takeover of the Wizards.
My partners and I were proud to work with [Pollin] and his family during the last ten years and we are committed to continuing his tradition of building exciting, championship-caliber teams. When Lincoln Holdings bought the Capitals and a substantial percentage of Washington Sports & Entertainment from Mr. Pollin in 1999, he gave us the exclusive right to purchase the remaining portion of the Wizards, Verizon Center and the local Ticketmaster franchise. That agreement established an orderly process for conducting that transaction and it is our intention to follow that process. Now is not the time, however, to discuss that subject; our focus now should be on mourning a great man who has done so much for our city.Leonsis has been considered extremely open with fans of the Capitals during his ownership of that team, and pioneered the credentialing of bloggers. For those whose interest immediately turns to Wizards general manager Ernie Grunfeld and coach Flip Saunders, know that Leonsis held onto to Caps coach Ron Wilson for three seasons following his purchase of the team, and George McPhee -- who had been the Caps' general manager when Leonsis bought the club -- is still in his position a decade later. There is often a concern a new owner will install "his guys" immediately, but Leonsis didn't do that with the Capitals.
Full disclosure: Leonsis is a vice chairman emeritus of AOL, which owns FanHouse.
Comments (Page 1 of 1)
The 45 point game by Arenas was a joy to watch. Once in awhile, that kind of individual effort is needed. To improve as a team, the Wizards need to use the talents of 5 players rather than one or two. The potential is there for a great team. Arenas, Butler, Jamison, Hayward & Young make a formidable starting five. Let the 4 shooters work without the ball to get around screens for more open shots. Less one on one and more team ball. Listen to the coach and continue to work hard on defence. When the Wizards work as a team, their game is a thing of beauty.
Are the rumors true that Ted will be trading Antwan Jamison. As a season ticket holder I need to know because like some other friends I will not be renewing if you take the heart of the Wizards away. Dianne