Could Ted Leonsis be buying the Nationals from the Lerners?

On Monday the Washington Post dropped a bombshell, reporting that the Lerner family has begun the process of looking into potentially selling the Washington Nationals. A day later, a frontrunner has emerged to buy the Nationals and he is a familiar face to Washington, D.C. 

According to Jason Bishop of 106.7 the Fan’s The Sports Junkies, the Lerners have had discussions with Washington Wizards and Capitals owner Ted Leonsis about purchasing the Nationals.

“Now, I think Ted [Leonsis] and Mark Lerner already have some sort of a business partnership,” Bishop said. “Mark Lerner might be maybe a minority owner of Monumental, but there is already a business relationship. But the person that I heard this from is a very reliable source. I’m not gonna say the name, but it’s someone who used to work with the Nats.”

The Nationals principal owner Mark Lerner is a partner with Leonsis’ Monumental Sports & Entertainment, which in addition to the Wizards and Capitals owns the Mystics, Capital City Go-Go and Capital One Arena in downtown D.C.

“I’m not saying it’s imminent,” Bishop added. “I’m just saying I was told that there have been discussions between the Lerners and Ted [Leonsis].”

The Lerners are considering “all options” and that could include changing its ownership structure or bringing in additional partners. 

“As revenue streams around professional sports continue to evolve and the strength of the Washington Nationals brand continues to grow, the team believes it is prudent to assess all of the options out there,” Nationals team spokeswoman Jennifer Giglio told The Post.

Ted Lerner purchased the Nationals for $450 million from MLB in 2006 a year after the team relocated to D.C. from Montreal, Quebec.

When the elder Lerner retired in 2018, he transferred day-to-day operations to Mark Lerner.

It was Mark Lerner who once proclaimed the Lerners “will never sell the Nationals.”

The Lerners have hired Allen & Company to help explore their options. It’s the same New York based investment firm that helped the sale of the Mets in 2020 to billionaire Steven Cohen.

Leonsis’ net worth is estimated at $1.5 billion. Ted Lerner’s net worth was estimated at $4.7 billion by Forbes in 2021.

Nothing is imminent. But Leonsis is arguably the most logical candidate to buy the Nationals. Does that mean he will? Will there be other suitors? Only time will tell.