Ted Leonsis Pursues MLB and MLS Teams to Expand Washington, D.C., Sports Empire

Ted Leonsis, the founder of Monumental Sports & Entertainment (MSE) and owner of multiple major Washington, D.C., sports franchises, reaffirmed his ambition to acquire both a Major League Baseball (MLB) and Major League Soccer (MLS) team to further expand his $7.84 billion sports platform. Speaking Tuesday at CNBC Sport and Boardroom’s Game Plan conference in Santa Monica, California, Leonsis said the move would strengthen Washington’s professional sports landscape and enhance competitiveness.

Since purchasing the NHL’s Washington Capitals in 1999, Leonsis has assembled one of the country’s most prominent regional sports conglomerates. MSE now owns the Capitals, the NBA’s Washington Wizards, and the WNBA’s Washington Mystics, as well as Capital One Arena and Monumental Sports Network, which broadcasts the teams’ games. CNBC’s 2025 ranking of Most Valuable Sports Empires valued MSE at more than $7.84 billion, placing it 19th.

Leonsis said his strategy mirrors the structure of technology firms, emphasizing shared resources and operational efficiency. “Coca-Cola has 100 brands, but one truck that delivers all the brands,” he noted, explaining how centralized functions such as sponsorship, ticket sales, and media rights can benefit multiple teams.

A basketball game | Source: Pexels

“I’m unabashed; I want to buy the MLS team. I want to buy the baseball team,” he told CNBC’s Mike Ozanian. “Not for ego, [but] for the fans, because those teams will struggle to compete against the Yankees and the Dodgers but if we can take those teams and plug them into the platform, and they can operate with excellence as a team and we handle all the top line, I think it will make them more competitive and that’s what fans are looking for.”

Efforts to secure additional teams have so far fallen short. Leonsis was reportedly in talks with Carlyle Group co-founder David Rubenstein about a joint bid for the Baltimore Orioles, but Rubenstein’s group ultimately acquired the team in 2024 for $1.725 billion. In Washington, Leonsis reportedly offered at least $2 billion to purchase the Nationals after the Lerner family announced plans to explore a sale in 2022. The Lerners reversed course in 2024, halting the sale process. “We talk all the time,” Leonsis said. “It takes two to tango, and they’re not ready to sell; they want to wait to see what happens with baseball.”

MLS’s D.C. United, valued at over $800 million following recent minority investments, has shown no signs of being for sale. Acquired in 2005 for $26 million by an investor group, the club remains a target Leonsis would like to add to his platform.

A baseball game | Source: Pexels

Leonsis acknowledged rising franchise valuations as a significant barrier. “I wouldn’t be able to afford to buy a team today,” he admitted. “You’re talking about billions of dollars in debt; that debt used to be earmarked for operations, now it’s being earmarked for entry to buy the team.” He also noted potential interest in lacrosse, women’s hockey, and partnerships with non-MSE-owned teams like the NWSL’s Washington Spirit.

Despite past controversy over MSE’s scrapped plan to relocate the Capitals and Wizards to Virginia—a $2 billion proposal that was abandoned before a renovation deal was struck with Washington, D.C.—Leonsis emphasized his commitment to the local market. “I’m just going to stay in my 10 million household area,” he said, reaffirming that his growth plans will remain focused on Washington, D.C.