Washington Capitals owner Ted Leonsis landed on the cover of Forbes Daily, highlighting his big year in 2022.
Forbes published the top 25 list of the most valuable sports empires in the world.
Leonsis made the list at number 20 through the Washington, DC sports powerhouse that is Monumental Sports & Entertainment. Ted is the founder, general partner and CEO of MSE, which Forbes values at $4.51 billion.
Billionaire Ted Leonsis, who owns Monumental Sports and Entertainment, is a prime example of local market dominance.
World’s Most Valuable Sports Empires 2023: https://t.co/uExYjlFxAV pic.twitter.com/1j9V1SVoGl
— Forbes (@Forbes) 25 January 2023
MSE’s publicly traded properties include the Capitals, Washington Wizards, NBC Sports Washington, Monumental Sports Network, Washington Mystics and stakes in e-sports and gaming enabler aXiomatic.
Forbes credits MSE and Ted’s presence on the list to their local market dominance strategy. That includes the fact that they also own Capital One Arena, where two of their franchises play all of their home games, and their recent acquisition of the NBC Sports Washington television network, which gives them full power over the distribution of their teams’ content.
Leonsis could add further to his empire if he is successful in his rumored bid to buy MLB’s Washington Nationals. According to sources at The Athletic, Leonsis’ joint bid with fellow billionaire David Rubenstein had them as frontrunners to buy the team as recently as last October.
There have also been reports that Leonsis would consider buying the Baltimore Orioles if that MLB franchise ever comes up for sale as well.
If Ted were ultimately successful in his pursuit of one of the Mid-Atlantic region baseball teams, he could create an unprecedented local sports network.
As things currently stand, Leonsis is one of just 10 owners who own two franchises in the four major North American sports leagues. An additional MLB purchase would make his NBC Sports Washington property all the more vital, as MSE would have a unique opportunity to air key DC sports games year-round on the same network.
At the top of Forbes’ ranking is Liberty Media ($20.8 billion), with billionaire John Malone at the helm. Their major assets include the Atlanta Braves and Formula One racing, as well as stakes in the Drone Racing League, Kroenke Arena Co., Meyer Shank Racing and Overtime Sports.
Rounding out the top five are Kroenke Sports & Entertainment ($12.75 billion), Jerry Jones ($11.32 billion), Fenway Sports Group ($10.4 billion) and Madison Square Garden Sports ($9.17 billion).
Safe to say, Ted can move MSE even higher up this list in the near future.
Header photo: Elizabeth Kong/RMNB