The Washington Wizards are a privately owned professional basketball team based in Washington, D.C., United States. They compete in the National Basketball Association (NBA) as a part of the Eastern Conference Southeast Division. The team plays its home games at Capital One Arena, which it shares with the NHL’s Washington Capitals.
Founded in 1961 as the Chicago Packers before relocating and becoming the Washington Wizards, the franchise has a long and storied history in the NBA. It has produced legendary players such as Wes Unseld, Elvin Hayes, and John Wall.
As of October 2025, the Washington Wizards are owned by Ted Leonsis, who manages the team under the parent company Monumental Sports & Entertainment (MSE). Leonsis has served as the Chairman and CEO of MSE since its formation in 2010.
Ownership Status of Washington Wizards
The Washington Wizards are not a publicly traded team. Instead, they are privately owned under Monumental Sports & Entertainment (MSE), a diversified sports and entertainment holding company headquartered in Washington, D.C.
Major Shareholders
| Shareholder / Entity | Ownership Percentage | Notes |
|---|---|---|
| Ted Leonsis | Majority Owner | Founder, Chairman, and CEO of Monumental Sports & Entertainment. |
| Jeff Skoll (Minority Investor) | Undisclosed | Former eBay president; invested in MSE as a minority partner. |
| Qatar Investment Authority (QIA) | ~5% | Acquired a minority stake in MSE in 2023. |
| Sheila Johnson (Minority Partner) | Undisclosed | Vice Chair of Monumental Sports & Entertainment. |
Note: The remaining ownership is distributed among various private investors within the MSE structure.
About the Majority Owner Ted Leonsis — Profile & Background
Ted Leonsis (Theodore John Leonsis), born January 8, 1957, is an American entrepreneur, investor, philanthropist, and media executive. He began his career in technology and media—he worked at companies like AOL and founded ventures such as LIST magazine and Redgate Communications—before shifting into sports and entertainment.
In 2010, he founded Monumental Sports & Entertainment, and under his leadership, MSE has acquired and operates multiple sports franchises including the Washington Wizards (NBA), Washington Capitals (NHL), Washington Mystics (WNBA), and the G League’s Capital City Go-Go, as well as the media and venue assets surrounding them. Leonsis is known for combining sports ownership with media, venue development, and local entertainment infrastructure.
Ted Leonsis Net Worth (Estimated)
Estimating the net worth of prominent private-owners can be tricky (because much of their value lies in private holdings), but various sources have made approximations. As of late 2023, Forbes valued Ted Leonsis’s net worth at approximately $2.8 billion. Other financial and media sources cite values in the $3.1 billion range (for instance, in rankings of wealthy sports franchise owners). Some more conservative estimates (in celebrity net-worth sites) put him around $2 billion. Given the volatility and opacity of private holdings, the true figure may lie somewhere between these estimates.
Key Shareholder Highlights
The Washington Wizards’ ownership is primarily managed by Ted Leonsis through Monumental Sports & Entertainment.
- Ted Leonsis – As the majority owner and CEO of MSE, he holds controlling interest in the Wizards along with other major sports teams, including the Washington Capitals (NHL) and the Washington Mystics (WNBA).
- Jeff Skoll – Known for his philanthropy and early success at eBay, he holds a minority stake, supporting the company’s long-term sports and media investments.
- Qatar Investment Authority (QIA) – The sovereign wealth fund invested roughly $200 million in 2023 for a 5% stake in MSE, marking a notable international partnership.
- Sheila Johnson – A key figure in MSE, she contributes to executive decisions and holds stakes across multiple teams owned by the company.
Together, these shareholders form a powerful leadership group that oversees both the business and sports operations of the franchise.
Recent Developments in Ownership
Recent updates show continued growth and investment in Monumental Sports & Entertainment:
- In 2023, the Qatar Investment Authority became the first foreign sovereign wealth fund to acquire a minority interest in a U.S. professional sports group, purchasing about a 5% stake in MSE.
- Ted Leonsis remains the majority and controlling owner, guiding the Wizards through a rebuilding phase that focuses on developing young talent and modernizing team infrastructure.
- MSE is also exploring future arena upgrades and potential expansion projects, reaffirming its long-term commitment to the Washington, D.C. area.
FAQs
1. Who is the current owner of Washington Wizards?
The Washington Wizards are owned by Ted Leonsis through his company Monumental Sports & Entertainment.
2. Is Washington Wizards publicly traded or privately owned?
The team is privately owned, not listed on any stock exchange.
3. Who founded the Washington Wizards?
The franchise was originally founded as the Chicago Packers in 1961, later renamed and relocated to Washington, D.C.
4. Has the ownership changed recently?
No major ownership change has occurred recently. However, in 2023, the Qatar Investment Authority purchased a minority stake in MSE, giving it indirect ownership in the Wizards.
Washington Wizards Official Site
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