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Monumental Sports & Entertainment

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Monumental Sports & Entertainment
Company typePrivate
Industry
FoundedJune 10, 2010; 14 years ago (2010-06-10)
FounderTed Leonsis (Chairman and CEO)
Headquarters
Washington, D.C.
,
U.S.
Key people
(Vice chairpeople)
Brands
Total assets$6.16 billion (January 2024)
Websitemonumentalsports.com

Monumental Sports & Entertainment (MSE) is an American sports and venue management company founded by Ted Leonsis in June 2010. Monumental owns and operates the NHL team Washington Capitals, the NBA team Washington Wizards, the WNBA team Washington Mystics, the NBA G League team Capital City Go-Go and the NBA 2K League team Wizards District Gaming. Other properties owned include Monumental Sports Network, Capital One Arena, EagleBank Arena, and the defunct Arena Football League (AFL) teams Washington Valor and Baltimore Brigade. Monumental is headquartered in Washington, D.C.

History

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Chairman and CEO Ted Leonsis founded Monumental Sports & Entertainment in 2010.

American businessman and senior AOL executive Ted Leonsis, who had owned the NHL team Washington Capitals since 1999, founded Monumental Sports & Entertainment on June 10, 2010, following his acquisition of the NBA team Washington Wizards and merger of Lincoln Holdings and Washington Sports & Entertainment.[1] Minority shareholders of Monumental include Laurene Powell Jobs, the Qatar Investment Authority, Jeffrey Skoll, Sheila Johnson, and Mark Lerner.[2]

In December 2023, Leonsis announced a non-binding partnership with Virginia governor Glenn Youngkin to move the Capitals and Wizards to a planned arena in Potomac Yard in Alexandria, Virginia, by 2028.[3][4] The structure would be part of an arts and entertainment district at the site, which would include a practice facility, restaurants, an esports venue, concert hall, and a new headquarters for Monumental.[5] In March 2024, after officials in Alexandria announced that the $2 billion entertainment and sports complex plans were scrapped, Washington mayor Muriel Bowser announced a new deal to keep the Capitals and Wizards in the District until 2050.[6] In 2024, Monumental was valued by Forbes at $6.16 billion.[7]

Brands and properties

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The Capital One Arena hosting a Washington Capitals game, both owned and operated by Monumental

References

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  1. ^ "Ted Leonsis-Led Group Completes Acquisition of Washington Wizards". NBA.com. June 10, 2010. Retrieved April 17, 2024.
  2. ^ Soshnick, Eben Novy-Williams,Scott (January 12, 2024). "Laurene Powell Jobs Selling 10% Stake in Wizards, Capitals Parent". Sportico.com. Retrieved September 12, 2024.{{cite web}}: CS1 maint: multiple names: authors list (link)
  3. ^ Gulitti, Tom (December 13, 2023). "Capitals' ownership interested in move to proposed arena in Virginia". NHL.com. Retrieved December 15, 2023.
  4. ^ Fortier, Sam; Armus, Teo (December 13, 2023). "Monumental, Youngkin announce deal to move Caps, Wizards to Virginia". Washington Post. ISSN 0190-8286. Retrieved December 13, 2023.
  5. ^ "DC leaders offer half a billion dollars to renovate Capital One Arena amid rumors of sports teams moving to Virginia". wusa9.com. December 13, 2023. Retrieved December 13, 2023.
  6. ^ DiMargo, Carissa (March 27, 2024). "Washington Wizards, Capitals make deal to stay in DC after Alexandria plan is scrapped". NBC4 Washington. Retrieved March 29, 2024.
  7. ^ Ozanian, Mike; Teitelbaum, Justin (January 25, 2024). "The World's Most Valuable Sports Empires 2023". Forbes. Retrieved February 10, 2024.
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