Lerner Family to Explore Selling the Washington Nationals Baseball Franchise 

by Patrick Herron

Update: Sale price of team in 2006 was corrected to $450 million.

The Washington Post has reported that the Lerner family has begun the process of exploring possible changes to the team’s ownership structure, including the possibility of selling the team.  Current Chevy Chase resident Ted Lerner, 96, purchased the team from Major League Baseball in 2006 for $450,000,000.

In June 2008, Ted passed control of the team to his son Mark Lerner.  Mark told The Washington Post that the family has “hired New York investment bank Allen & Company to research potential investors, and possibly buyers, for the Nationals.”

In 1952, a 26-year-old Ted Lerner borrowed $250 from his wife to start a real estate company, selling homes for developers. After selling 22,000, he decided to become a builder.

Today his Lerner Enterprises,  headquartered at 2000 Tower Oaks Blvd in Rockville, is among the largest owners of real estate in the Washington, D.C area.

Ted Lerner was recently listed as being worth $4.4 Billion on Forbes annual ‘World’s Billionaire List’.

Full Washington Post article linked below:

 

You may also like

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy