The Qatar Investment Authority (QIA) is in talks to acquire a minority stake in Monumental Sports & Entertainment, the ownership group behind the NBA’s Washington Wizards, the NHL’s Washington Capitals, and the WNBA’s Washington Mystics.
If the deal is finalized, it would mark the first time a foreign sovereign fund owns a significant portion of a major U.S. team sports franchise.
According to a source familiar with the matter, the state-owned Qatari fund is aiming to purchase a 5 percent stake in Monumental Sports & Entertainment, which is led by Ted Leonsis. The ownership group also includes assets such as Capital One Arena and a local sports cable network. A spokesperson for Monumental declined to provide any comment regarding the potential investment.
Insightful piece