Teams/Southeast Division
Washington Wizards
Ted Leonsis, a former AOL executive, has controlled the Wizards since June 2010 through his company Monumental Sports & Entertainment. The takeover valued team and arena at $551M, Forbes now values the team at $5.2B, and it has had three ownership groups since 1961.
Every owner since the start
- 2010-todayTed Leonsis, through Monumental
Bought control from the Pollin estate in June 2010, at a value of about $551M for team and arena.
- 1964-2010Abe Pollin, at first with Earl Foreman and Arnold Heft
Bought the Baltimore Bullets from Dave Trager in 1964 for $1.1M. Pollin later bought out his partners; price not found.
- 1961-1964Dave Trager and associates
Founded the Chicago Packers in 1961; expansion fee not found. Moved the team to Baltimore in 1963.
Value over time
- 12010 Leonsis takes control at $551M
Show the numbers
| Year | Forbes value |
|---|---|
| 1998 | $207M |
| 1999 | $209M |
| 2000 | $210M |
| 2002 | $214M |
| 2003 | $278M |
| 2004 | $273M |
| 2005 | $318M |
| 2007 | $348M |
| 2008 | $353M |
| 2009 | $313M |
| 2011 | $322M |
| 2012 | $328M |
| 2013 | $397M |
| 2014 | $485M |
| 2015 | $900M |
| 2016 | $960M |
| 2017 | $1B |
| 2018 | $1.35B |
| 2019 | $1.55B |
| 2020 | $1.75B |
| 2021 | $1.93B |
| 2022 | $2.5B |
| 2023 | $3.5B |
| 2024 | $4.1B |
| 2025 | $4.7B |
| 2026 | $5.2B |
| Year | Sale | Team valued at |
|---|---|---|
| 2010 | Leonsis takes control from the Pollin estate; team and arena valued at $551M | $551M |
| 2022 | Jeff Skoll buys under 10% of Monumental for about $300M; Forbes puts the Wizards at $2.5B within a $4.1B company value Not on the chart: this values the parent company, not the team alone. | $2.5B |
| 2023 | Qatar Investment Authority buys about 5% of Monumental at $4.05B (whole company: Wizards, Capitals, Mystics, arena) Not on the chart: this values the parent company, not the team alone. | $4.05B |
| 2025 | QIA and Arctos agree to buy Laurene Powell Jobs's Monumental stake at a $7.2B company value including debt; closing not reported Not on the chart: this values the parent company, not the team alone. | $7.2B |
Forbes valued the Wizards at $207M in 1998 and $5.2B in 2026, a multiple of about 25x. The biggest one-year jump was $1.0B in 2023 (up 40%); the biggest in percentage terms was 86% in 2015.
How the current owner bought it
- In 1999 Pollin sold Leonsis the NHL Capitals plus 44% of the Wizards and the arena, with first refusal on the rest.
- Front Office Sports puts that package at about $200M; Forbes puts the Capitals alone at $85M.
- Pollin died on 24 November 2009. Leonsis took majority control from the estate in June 2010.
- The two sides agreed the $551M value without outside appraisers. Financing and debt for the 2010 deal were not found.
- Pending: in December 2025 Laurene Powell Jobs agreed to sell her Monumental stake to Qatar Investment Authority and Arctos Partners. NBA and NHL approval was required, and no approval or closing had been reported by 28 October 2026.
Partners in the team
| Partner | Stake | Who they are |
|---|---|---|
| Qatar Investment Authority | about 5% bought in June 2023 at a $4.05B valuation; raised in December 2025 | State fund of Qatar; no governance rights |
| Arctos Partners | undisclosed | Private-equity firm; agreed to buy in December 2025 at a $7.2B enterprise value, meaning the whole company with its debt |
| Jeff Skoll | under 10% | First president of eBay; invested about $300M in November 2022 at a $4.1B valuation |
| Sheila Johnson, Mark Lerner | not found | Co-founder of BET; owner of the Washington Nationals |
| Laurene Powell Jobs | about 20% bought in 2017; part sold later | Selling her remaining stake in the December 2025 deal |
How the team is run
- Monumental owns the Wizards, the Capitals, the WNBA Mystics, the arena and a regional TV network. The stakes above are in Monumental, not the team alone.
- Leonsis is chairman, managing partner and CEO. His son Zach became Monumental president and vice chairman in September 2026. The new investors get no board seats.
- In December 2023 he announced a move to a $2B complex in Alexandria, Virginia. The Virginia legislature declined the plan.
- A March 2024 deal keeps the teams in the District until 2050. Forbes costs the arena renovation at $800M; Wikipedia says about $1B, with $515M from the District.
- Monumental says it has no immediate plan to list its shares, per Sportico.
Quick answers
Who owns the Washington Wizards?
Ted Leonsis, a former AOL executive, has controlled the Wizards since June 2010 through his company Monumental Sports & Entertainment. Laurene Powell Jobs agreed to sell her stake in parent company Monumental to Qatar's state fund and Arctos; not yet closed.
How much are the Washington Wizards worth?
Forbes values the Washington Wizards at $5.2B in its October 2026 list, up 11% from $4.7B a year earlier. That makes them the 17th most valuable of the 30 teams; in 1998 Forbes put the team at $207M.
How much did the current owner pay for the Wizards?
$551M valuation with arena (Ted Leonsis, 2010). Forbes now values the team at 9.4 times that price.
Who owned the Washington Wizards before the current owner?
Abe Pollin, at first with Earl Foreman and Arnold Heft (1964-2010). Bought the Baltimore Bullets from Dave Trager in 1964 for $1.1M. Pollin later bought out his partners; price not found.
Open questions
- No source gives the approval or closing date of the December 2025 stake sale; Wikipedia describes it as done.
- The Leonsis share of Monumental was about 40% in 2017, per the Washington Post; no current figure was found.
- Whether the District has bought the arena is unverified. A WTOP headline cited by Wikipedia mentions a deal to buy it; Forbes and Wikipedia list Monumental as owner.