Sports
Lerner Family, Owners Of Washington Nationals, To Explore Sale Of Team
The owners of the Nationals have asked an investment bank to research potential investors and buyers for the DC team, according to reports.
WASHINGTON, DC — The Lerner family, owners of the Washington Nationals, has hired an investment bank to explore potential investment partners or parties that might be interested in buying the DC baseball team, according to a Washington Post report.
New York investment bank Allen & Company will research potential investors, and possible buyers, for the Nationals, Mark Lerner told the Post in a statement Monday. Mark Lerner is the son of real estate magnate Ted Lerner, and serves as the club’s managing principal owner.
“This is an exploratory process, so there is no set timetable or expectation of a specific outcome,” Mark Lerner said in the statement to the Post. “The organization is as committed as ever to their employees, players, fans, sponsors and partners and to putting a competitive product on the field.”
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Ted Lerner, 96, purchased the team from Major League Baseball for $450 million. Forbes assessed the club's value at $2 billion in March. Lerner was the richest owner in Major League Baseball before Steve Cohen acquired the New York Mets in 2020.
Since moving to Washington from Montreal in 2005, the franchise has reached the playoffs five times and won the World Series in 2019.
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The team failed to make the playoffs in 2020 and 2021. For the 2022 season, most baseball observers believe the Nationals will finish near the bottom of the standings after the club did not make moves in the off-season to improve the team in the short term.
Fans are hoping the Nationals will sign star outfielder Juan Soto to a long-term contract and start spending again on top pitchers, as opposed to going in the direction of the Baltimore Orioles, which have had a limited payroll over the past 20 years.
Soto reportedly declined a 13-year, $350 million contract extension last winter. He has three years remaining on his rookie deal, after which he will be eligible for free agency.
“This process does not impact the team’s ability to make baseball decisions,” team spokeswoman Jennifer Giglio told the Post. “It will not distract the organization from our goal of being a first-class organization and fielding a winning team.”
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