Washington Sports & Entertainment (WSE) Chair Abe
Pollin "has offered buyouts to approximately" 37 front-
office employees with 20 or more years of service with the
company, whose holdings include the Wizards, Mystics and MCI
Center, according to Asher & Solomon of the WASHINGTON POST.
WSE President Susan O'Malley "confirmed the offer" and said
that all of the affected employees would have the option to
"reject" the buyout and continue working for the company.
The 37 employees are being offered a "lump sum" equal to 18
months' salary -- as much as $150,000 for some senior
managers -- and have until September 24 "to accept or reject
the offer." Many of the employees have earned pensions from
WSE, which employs around 400 people. Sources close to
Pollin said that the buyouts "were not related" to the sale
of the Capitals and a stake in WSE to a group led by Ted
Leonsis for $200M, but added that "additional personnel
changes likely will occur" as the Leonsis group becomes
"more active" within the company. O'Malley: "This is
standard Abe Pollin. It's a chance to reward the people who
have been with him since he started the business."
Meanwhile, Leonsis said recently that Pollin told him if he
wanted to make changes after the sale that resulted in
longtime Pollin employees losing their jobs, Leonsis "should
retain those employees and deduct their salaries from
Leonsis's purchase price" (WASHINGTON POST, 8/10).
