HoopsHype Ted Leonsis rumors

June 22, 2012 Updates

Ted Leonsis: "I find it ironic that one team that made the trade is doing what we did a few years ago – shedding vets for picks or prospects for payroll flexibility, building around their number one pick in the draft. This seems to be a NBA cycle of reinvention. We have managed the cap well – we had the resources to take on three new major contracts in Nene, Okafor and Ariza. And we had the patience and will to craft the team around nine young draftees and young players". Ted Leonsis

June 21, 2012 Updates

What do flashy billboards have to do with a championship for the Washington Wizards or the Capitals? Everything, if you ask Ted Leonsis. Leonsis, the founder of Monumental Sports & Entertainment, which owns both teams and the Verizon Center where they play, says he's at a competitive disadvantage when it comes to running both the facility and two teams. Being allowed to have more digital signs outside the arena could make up that difference in revenue, he said. Washington Examiner

Leonsis is pushing a bill that would allow for more signage at the arena, which still has $125 million left on its mortgage. Leonsis said that since he bought the teams and arena in 2010, after former owner Abe Pollin died, he has paid down the outstanding debt by about $15 million. But the enterprise is losing money. Washington Examiner

"This is a case where we have to pay the banks first for that building, and then whatever's left we can use it to improve the building and pay for the team," Leonsis continued. "And that $8-to-$10 million [cost] is a lot of money for a team that spends $50 million a year in payroll." Washington Examiner

June 20, 2012 Updates

Ted Leonsis: We will now have the opportunity to surround the young players with five to six seasoned vets. We added Nene last season, and now we have added Emeka Okafor and Trevor Ariza. All three will play in our rotation next season and are experienced, tough and talented. They are “team first” in attitude kinds of players that have had championship successes – one in college (UConn) and one in the pro ranks (Lakers). Ted Leonsis

June 4, 2012 Updates

At first glance, with all of the available alternatives out there, the Wizards' decision to keep Wittman, who has a career coaching record of 111-238, and whose previous coaching stints in Cleveland and Minnesota never came close to producing playoff teams, seems odd. And league sources say that new owner Ted Leonsis is reluctant to throw out big money while the Wizards are rebuilding. John Wall's development at the point and his overall happiness are the Wizards' top priority, and no one has been better with point guards over the last few years than D'Antoni, whose system helped Steve Nash procure back-to-back MVP awards in Phoenix, and who got the most out of Ray Felton in New York. The Knicks may have signed Jeremy Lin as an afterthought, but it was under D'Antoni' that Linsanity took hold. NBA.com

May 31, 2012 Updates

Ted Leonsis On Randy Wittman’s future: Randy is under contract. And right now, he’s our coach. And I was very impressed with the job that Randy did. But more importantly, I was impressed during the exit interviews. To a man, the players all felt that the way that we played after the trade wasn’t fool’s gold. It wasn’t the end of the season and other teams weren’t trying. That this was a serious team. A team that was playing for one another. A team that’s coachable and working really, really had and it started to see the lights turning on, that if they played the right way they would get results. So we started to take that into consideration, but the players really liked the coach and the staff. That speaks volumes on what decision we’ll have to make. Washington Post

More on Wittman: Randy is under contract. The entire staff is under contract. The most important signals to me, was in all the exit interviews, to a man, everyone thought that Randy did a fantastic job. So that gave me confidence that I should interview and I had a quality day with Randy. And we still talking through some things and I feel very, very comfortable that when Nene has been around and a John Wall, both say thiswas a coach that treated us the right way, respected the game and we listened to him. When a Kevin Seraphin comes in and says: ‘He trusted me. He’s making me a better player and I wanted him to yell at me. The more he yelled at me, the more I know he really cares.’ We have good data points. Ernie’s got some decisions to make. But I was very, very comfortable with the exit interviews and the input on the coach. Washington Post

May 24, 2012 Updates

According to multiple league sources, Wittman was in Washington last week and recently had a face-to-face meeting with owner Ted Leonsis. A source that confirmed the meeting was unsure if it was a perfunctory get-to-know-you session or a formal interview. Leonsis often sat near the Wizards’ bench during games, but never had the chance to sit down with Wittman after he replaced Flip Saunders on Jan. 24. Washington Post

April 24, 2012 Updates

The Washington Wizards announced today that they have agreed to a new contract with President Ernie Grunfeld. Per team policy, terms of the contract were not released. “Ernie has led the charge to rebuild and change the direction of the Wizards and I’m pleased that we will continue to work together to improve upon what we’ve accomplished,” said Monumental Sports & Entertainment Majority Owner, Chairman and CEO Ted Leonsis. “In the process of almost completely turning over the team’s roster in the last two years, we have accumulated and developed young players and added veteran players while maintaining cap flexibility, all of which will help us build a competitive team going forward.” NBA.com

April 23, 2012 Updates
April 2, 2012 Updates

Ted Leonsis: This blog post has no truth in it - it is a joke and an April Fool’s day prank. I wanted to go on record to say my quotes were fabricated. I did NOT respond nor was I contacted in any way about this story. I did not participate in any way in this blog post and prank. Further, there is no Wizards jersey designed with this sponsor on it. This is all photoshoped. The blog was done I am sure in fun and without malice – but it is important for me and for us to distance ourselves from its content .And to set the record straight. Thank you. Ted Leonsis

March 23, 2012 Updates

Sources within the Wizards organization have denied a published report that President Ernie Grunfeld recently rejected owner Ted Leonsis’s three-year, $4.5 million proposal to stay with the franchise. Grunfeld’s contract is set to expire after this season, but team sources said he has not been offered an extension and another person with knowledge of the situation said the New York Post report was “made up.” Washington Post

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