Washington Capitals
Reports: Qatar Investment Authority To Buy Minority Stake In Monumental Sports & Entertainment
The Qatar Investment Authority is acquiring a minority stake in Monumental Sports & Entertainment (MSE) — the parent company of the Washington Capitals, Washington Wizards and Washington Mystics, according to multiple reports Thursday.
The Authority, which is Qatar’s sovereign wealth fund, will receive a “roughly 5%” stake in MSE as part of a $4.05 billion deal, Sportico first reported.
The purchase first must be approved by the Boards of Governors of the NHL and NBA, according to The Athletic’s Mike Vorkunov.
It is believed to be the first instance of a country’s investment find purchasing a stake in an American sports franchise, according to Sportico.
Ted Leonsis, who acquired the Capitals in 1999, is the chairman and chief executive officer of MSE, which also owns Capital One Arena and the NBA G-League’s Capital City Go-Go.
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