Who owns the Washington Wizards? Taking a closer look

The Washington Wizards are owned by a group called Monumental Sports. The CEO of the group, Theodore Leonsis, is also the founder and majority owner and also owns other sports franchises in the Washington area.

'Ted' Leonsis, while being the owner of the Wizards, is also the owner of the WNBA's Washington Mystic and the NHL's Washington Capitals. Leonsis and Monumental Sports also own the Capital One Arena, the home court of the Wizards.

Leonsis was born on January 8th, 1957, in New York, into a working-class family of Greek immigrants. He has been the owner of Wizards since 2010 and played a vital role in the rebranding the Wizards undertook that season, which included changing their logo and color scheme.

Washington drafted iconic franchise players such as John Wall and Bradley Beal under his ownership. Neither player could fulfill their promise of bringing a title to the city. However, it is safe to say that they have a special place in the hearts of all Wizards fans.

Read: “Really over before it even started”- NBA fans troll Celtics after the three team trade for Kristaps Porzingis collapses

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What is to become of the Washington Wizards?

It is evident from his past that Ted Leonsis isn't against the notion of a rebuild. With the Washington Wizards trading Bradley Beal, the team has committed to making some significant changes to their roster.

Beal being traded to the Phoenix Suns has been one of the most heavily-discussed topics in the offseason. However, Washington was far from done with making moves.

Recently, the Wizards were linked in trade talks with the Boston Celtics and the LA Clippers in a three-team deal involving Kristaps Porzingis. The trade would see KP head over to Boston while Malcolm Brogdon would go over to LA. Meanwhile, the Wizards would receive Marcus Morris, Amir Coffey and a decent amount of draft compensation.

Unfortunately, the deal fell through over concerns regarding Brogdon's injury-prone state. However, with reports of a new three-way deal with the Memphis Grizzlies, the Wizards completed the trade with the Celtics.