SportsGroove Extra: Leonsis Now Officially in Charge

Ron Bailey, Publisher

Ted Leonsis has much of D.C. sports in his hand.

June 11, 2010 - Yesterday made official a seismic shift in Washington, DC sports, as Ted Leonsis officially announced his ownership of the city's National Basketball Association franchise - the Washington Wizards.

Under the newly structured umbrella of Monumental Sports and Entertainment, the ownership team led by Leonsis adds the Wiz to D.C.'s National Hockey League's Capitals, various ticket distribution firms, the Verizon Center (home to both Caps and Wizards), responsibility for George Mason University's Patriot Center management and that of the Kettler Iceplex, plus radio and television rights for pro hockey and hoops in this town. All of that, added to ownership and media rights holding of the WNBA's Mystics franchise, creates a total package valued at 850 million.

His speech, in almost total measure is presented here (part 1) and (part 2).

Ted Leonsis, laying out sketches of his upcoming plan.

Leonsis, a verbose and intelligent man, elaborated greatly on such topics as the return of and expectations attached to Gilbert Arenas of the Wizards (all parties are coming together), whether that team will return to a color scheme based in red (a distinct possibility), and his plans for the Verizon Center (they are big).

For real time tweets, sent during the actual speech, see www.twitter/hoyanation. Please forgive the typos, as this writer's on-the-scene tweeting needs to improve. Nevertheless, it's understood what Leonsis, a man who helped drive internet giant AOL to prominence, as well as made movies, published a book, runs sports teams and has embraced philanthropy, was communicating.

Owning half of D.C.'s major sports franchises and its major indoor arena, Leonsis, born in Brooklyn, NY, graduating high school in Lowell, MA and attending Georgetown University, has the opportunity to firmly leave his imprint on this city's sports landscape.