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SBD/November 27, 2013/People and Pop Culture
Nearing 15 Years In Sports Industry, Monumental's Ted Leonsis Happy With Various Enterprises
Published November 27, 2013
MASTER OF ILLUSION? George Washington Univ. sports management professor MARK HYMAN said that Leonsis "bought himself years of goodwill through his superior marketing and understanding of what matters to consumers." Hyman said, "That's the secret to successfully selling anything, creating the impression -- and sometimes the illusion -- of that personal touch. And he's done that pretty well." The Wizards and Capitals "are still both losing money, which actually may help Leonsis among his followers." But the Capitals "are close, narrowing" their losses to $1M in '12, down from $9.1M in '10. Leonsis said that the Wizards "are losing much more," though he declined to provide a figure. He said that if the Wizards improve, he will "raise ticket prices and cut the team's losses." But a "major point is still coming for Leonsis: The expiration of Monumental's TV contract with Comcast Sports Net to produce Capitals games comes in three years, Wizards games in seven." Leonsis said that a bigger payment to Monumental "under that contract would immediately put the entire enterprise in the black." Or, he "may create a joint venture with Comcast Sports Net or abandon it altogether and do it in-house" (WASHINGTON BUSINESS JOURNAL, 11/22 issue).