Leonsis formally takes over Wizards

BY foxsports • June 10, 2010

Ted Leonsis has completed his purchase of the Washington Wizards - and the e-mails are already coming in.

The former AOL executive and his partners paid about $310 million to buy the NBA team, the Verizon Center and other assets from the estate of the late Abe Pollin. They had previously owned 44 percent of the team and the arena - as well as 100 percent of the Washington Capitals and Washington Mystics.

Leonsis' group is now called Monumental Sports & Entertainment. Its assets total about $825 million.

The papers were signed Wednesday, and Leonsis then opened an e-mail address for Wizards fans. By Thursday morning he had already received 130 e-mails, including several from a fan upset with the quality of the ketchup at the arena.