Leonsis Offer for Wizards May Be In Trouble

Photo courtesy of
‘DC Chamber of Commerce Gala oct 17 2009’
courtesy of ‘ShashiBellamkonda’

…but it’s not a fault of the offer or the team, it seems. The threat to the peaceful transfer of the Wizards is coming from Washington Sports & Entertainment, who insist they should have the right to accept outside public offers for the Wizards as part of the sale. Negotiations have been (publicly) civil between Leonsis and the Pollin family, who’ve both retained investment banks to assist in the valuation of the Wizards franchise (right now? I’d give ’em a nickel.) and the Verizon Center.

What had previously been released was that Leonsis, and his company Lincoln Holdings, had an exclusive period in which to make an offer for the team and the Verizon Center, after which things could be opened to the public. The President of WS&E, though, believes that not to be the case, and he’s gone public with a memo sent to the Pollin estate and Leonsis.

What had been a peaceful process just got a whole lot of potential to get ugly. Thanks, jackass.

I live and work in the District of Columbia. I write at We Love DC, a blog I helped start, I work at Technolutionary, a company I helped start, and I’m happy doing both. I enjoy watching baseball, cooking, and gardening. I grow a mean pepper, keep a clean scorebook, and wash the dishes when I’m done. Read Why I Love DC.

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One thought on “Leonsis Offer for Wizards May Be In Trouble

  1. Bring back the Bullets!!! I stopped going to games after they changed their image. I never liked the Wizards name, colors, and team. Its time for Washington to the over the political correctness.