SBD/Issue 144/Franchises

Kim Joins Lincoln Holdings; Leonsis Scales Back Stake

Dr. Jeong Kim was named as an investor and partner in Lincoln Holdings, joining Ted Leonsis, Dick Patrick, Raul Fernandez, Jack Davies, Richard Kay, George Stamas and Richard Fairbank (Capitals). In DC, Eric Fisher writes, "In the ninth change to the Lincoln roster in 27 months, Leonsis continues to lower his personal stake in the club and prepare for the potential purchase of the Washington Sports & Entertainment L.P. assets the group does not already own." Fisher, noting Kim purchased 6% of Lincoln Holdings, writes Kim's "arrival completes Leonsis' dispersal of equity once held by" Jonathan Ledecky. Ledecky sold his 24% stake back to Leonsis last June. Leonsis' stake is "now back to about" 60% (WASHINGTON TIMES, 4/16).

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