Find out who owns the Washington Wizards, the owner's net worth, the source of wealth and the ownership history of the franchise.
The Washington Wizards is one of the household franchises based in Washington, D.C., and is part of the Eastern Conference Southeast Division.
The Washington Wizards was founded in 1961 and won their first NBA championship in 1978.
Who owns the Washington Wizards?
The Washington Wizards is owned by Ted Leonsis, who is the majority owner of the franchise. He owns the franchise through Monumental Sports & Entertainment.
Washington Wizards ownership structure
Monumental Sports & Entertainment
Monumental Sports & Entertainment owns and controls the Washington Capitals (NHL), Washington Mystics (WNBA), and Capital City Go-Go (NBA G-League).
Ted Leonsis
Theodore John Leonsis is an American businessman, former senior executive with America Online (AOL), and the founder, chairman, and CEO of Monumental Sports & Entertainment. According to figures from Forbes, he has a net worth of 3.06 billion.
Club Net Worth & Valuation
According to figures from Forbes, the Washington Wizards are valued at $4.1 billion.
Club Ownership History
The Wizards franchise was originally founded in 1961 as the Chicago Packers and later became the Chicago Zephyrs. The team relocated to Baltimore in 1963 and was renamed the Baltimore Bullets before moving to Washington, D.C., in 1973 and adopting the Washington Wizards in 1970.
Ted Leonsis purchased the franchise in 2010 and has been the majority owner ever since.
Trophies and Achievements
The Washington Wizards have won one NBA championship.