Big Changes in Sports Ownership: Who's Buying and Who's Selling?

Laurene Powell Jobs Steps Back from Sports Ownership

Laurene Powell Jobs, the widow of Steve Jobs, is stepping back from her role in sports ownership. She's selling her share in Monumental Sports & Entertainment, the company that owns the Washington Wizards and other sports teams. This news comes from reports by Scott Soshnick and Eben Novy-Williams.

Key Buyers Interested

• Qatar Investment Authority: A wealthy investment group from Qatar.
• Arctos Partners: A company that invests in sports teams.

It's not yet clear how much of the company each buyer will own.

Powell Jobs' Involvement

• 2017: First bought a significant part of Monumental Sports & Entertainment.
• 2022: Sold a portion of her stake.
• Now: Selling the remaining share.

The company is valued at approximately $7.2 billion, including:

• Washington Wizards ($4.78 billion)
• Washington Capitals
• Washington Mystics
• Other assets.

Current Ownership Structure

• Ted Leonsis: Main owner of Monumental and the Wizards.
• Other Owners: Jeffrey Skoll, Sheila Johnson, and Mark Lerner.

Global Investment in Sports

• Qatar Investment Authority already owns a small part of Monumental, making them the first foreign group to directly invest in a major U.S. sports team.
• Arctos Partners owns stakes in other teams, such as the Golden State Warriors.

This sale highlights how sports teams are a major business, attracting investors worldwide. It's not just about the games; it's about the money and influence that come with owning a team.