What we know about potential sale of Washington Nationals
Nationals #Nationals
Three seasons ago, the Washington Nationals hoisted the World Series trophy, but that magic has faded. At the start of this past season, the Lerner family announced that they would explore a sale of the team.
The sports industry has evolved in recent years, especially with the rise of streaming platforms and cable cord-cutting. But MLB seems plagued by fan disinterest. Per Forbes, overall MLB attendance in 2022 declined from 2019, the last season before COVID, and per sportsmedia, the 2022 Astros-Phillies World Series drew the second-lowest audience in history.
These developments are in large part driving the Lerner family to weigh its options.
Other worrisome signs have concerned management. The team has struggled to retain superstars. In 2019, outfielder Bryce Harper signed with Philadelphia. In 2021, pitcher Max Scherzer left for the Mets, and the team traded outfielder Juan Soto to the Padres last season after it became clear that he wouldn’t sign with the Nationals.
The team’s attendance figures over the past few seasons have placed the franchise squarely in the middle of the league. And Nationals Park, or “Nats Park” as it’s colloquially called, has never sold the naming rights to the stadium, despite years of successful teams and extensive economic development in the neighborhood surrounding the ballpark.
The sale adds a level of uncertainty in the near term, but fans are excited about the prospect of an ownership group that potentially could transform the club into a consistent and dominant force.
Initial reporting placed Ted Leonsis, founder of Monumental Sports and owner of the Wizards and Capitals, in the driver’s seat to acquire the team. Per Bloomberg, former private equity executive David Rubenstein would provide financial support. No other serious bidders have entered the process.
But the talks have recently stalled. As part of the team’s move from Montreal to Washington, the Nationals had to broker a deal with the Baltimore Orioles, whose airwaves they invaded. The agreement resulted in a 77/23 revenue split that favored Baltimore. This lopsided profit-sharing structure now appears to be holding up the sale.
Washingtonians know all too well what an ineffectual lame-duck session in Congress looks like. If the Lerners are left continuing a search for buyers next season, the Nationals’ fanbase will get a taste of the sports equivalent.
Therefore, it’s in the interest of the MLB to figure out a way to move the sale forward for the benefit of the franchise.
Subscribe to Yardbarker’s Morning Bark, the most comprehensive newsletter in sports. Customize your email to get the latest news on your favorite sports, teams and schools. Emailed daily. Always free! Sign up now ▸
More must-reads:
Related slideshow: The 25 best non-fiction sports books (Provided by Yardbarker)