Ted Lerner, the real estate developer who purchased the Washington Nationals in 2006, has passed away, reports Jonathan Karl of ABC News. Lerner was 97 years old. The cause was complications from pneumonia, per a report from Adam Bernstein and Matt Schudel of The Washington Post.
Major League Baseball took over ownership of the struggling Montreal Expos franchise in January of 2002 and started looking for new locations for the club. That process led to the team being moved to Washington, D.C. for the 2005 season and Lerner purchased the club in 2006.
The first few seasons in Washington were times of transition for the franchise. They initially played in RFK Stadium, which opened in 1961, as plans for a new stadium were put in place. Nationals Park then opened in 2008, with the team playing there to this day. In terms of results, the team finished 5th in the National League East division in five out of its first six seasons. The silver lining of all that losing is that the club received strong draft picks that it used to build a stockpile of young talent, including players like Stephen Strasburg, Bryce Harper and Anthony Rendon.
Those players and others would eventually help the club emerge as perennial contenders for an extended stretch. Beginning in 2012, the club posted a winning record in eight straight seasons, qualifying for the postseason in five of those. The first four trips to the playoffs resulted in quick exits, but the Nats eventually pushed through and won the World Series in 2019.
Since hoisting that trophy, the club has fallen on hard times again, posting losing records in the three subsequent seasons. That has prompted the club to lean into a rebuild, trading away star players like Max Scherzer, Trea Turner and Juan Soto. Their 55-107 record in 2022 was the worst in the majors for that season and the worst for the franchise since the move to Washington.
The Lerner family is still the club’s primary owner, though Ted transferred control of the club to his son Mark in 2018, when the former was 92 and the latter 64. It was reported in April last year that the family was going to explore a sale of the club, though the most recent reporting indicates that not much progress has been made on that front.
Regardless of how that eventually unfolds, most baseball fans in the Washington area will likely look fondly on the most recent era of Nationals baseball. Though it took some time to get going, the club was eventually transformed from a basement dweller into a champion in the Ted Lerner era, though their one title did come shortly after he ceded official control.
MLBTR extends its condolences to all those around the baseball world mourning Lerner today, including his family, friends and many others around the game who crossed paths with him over the years.
RIP.
Rest in Peace. He at least saw his team win a championship before he passed away.
RIP. Sell the team already Mark.
Can’t sell.
Why not? Presumably it was owned by a trust or a similar vehicle (LLC, etc.) that wouldn’t require probate. If there are estate taxes due, getting liquid would be a benefit to the estate. Plus, there is a step-up in tax basis upon Mr. Lerner’s death so no capital gains tax would be due. That makes the sale easier to stomach. No, I’m not a CPA or tax lawyer, just a guy who knows enough about these things to be dangerous!
Not any financial or bookkeeping barrier that couldn’t be overcome….its the difficult situation with TV rights belonging to a company controlled by the Orioles. Been in litigation for years over Orioles not paying the contractual amount and not developing the sports network so Nats can make money comparable with the fanbase,, etc. And it is an in perpetuity situation, so no one can buy thinking they can wiggle out.
The TV money dispute has to be a major impediment to the sale of the team. That’s the team’s primary income source.
Until a buyer knows how much TV money to expect and for how long, that sale won’t go through.
Which really makes me wonder if Arte’s turnaround here is tied to Diamond/Bally’s going under.
Paying the amount they owed contractually* which did not include indicators for growth or allow scaling. Lerner signed a bad contract.
Deals go through all the time despite uncertainties. A potential buyer would apply a discount to their bid to reflect the uncertainty. The Lerners can then decide if they want to accept the best offer or hold on to the club. Hopefully they have enough liquid assets to pay the estate taxes.
Could be possible that exploring a team sale was part of an estate planning process. Based on offers received, they now have a recent assessment of the team’s market value. May help to divvy up ownership shares of the team as part of the rest of Lerner’s estate for his heirs, various tax implications, etc.
MLB signed the contract, the Lerners were stuck with it when they bought the team.
Sad to Lern if this today. The king of deferred salaries has fallen.
RIP.
What a life Ted lived, Navy Yard has completely changed from 15 years ago. He poured a lot of resources into the franchise, hopefully Mark will step up to honor him after this season..RIP Ted!
Sad to hear. He had a remarkable life, filled w/ tremendous accomplishments. He was an innovator in the construction field. I remember the Discovery Channel series about the construction of Nationals Park–he got it completed under-time and under-budget by using streamlined construction techniques (including having the architects working on the design While it was under construction?!).
He was a force in the local community, and he will be missed. God’s speed Ted.
yes god’s speed amen
ted lerner more like spred splerner am i right fellas?
Gonna miss ole Ted. He made the Braves popular. Married a movie star. Had a cameo on Family Guy. Opened a restaurant chain. Even had a MLB stadium named after him.
Do you have the right Ted?
@kiddhoff — You’re thinking of Ted Turner.
Eh, Ted Lerner, Ted Turner, what difference do a couple of letters make?
Wrong Ted.
You’re thinking of Ted Burner. King of the roadside Civil War hamburger and ear of corn on a stick with a side of barbecued cat Ted.
Close.
He got his World Series and got to enjoy it!!!
May he Rest in Peace and I hope his estate enjoys paying Max Scherzer…
Always gotta add some sarcasm
I bet his Heirs are annoyed, they want their money, but it was his money and he spent it wisely. he got what he wanted in this Lifetime!
Great man of our times.
He turned trash into a respectable organization. The NATS are looking good come 2024.
Well, hopefully looking better by 2024. I don’t expect them to actually be “good” until about 2025.
Still, blue skies Mr. Lerner. Thanks for bringing baseball to my hometown.
26. hassell 111 is not going to be that good I am afraid.
If you take the “under” on prospects you’ll be right a lot more often than you are wrong.
RIP. You brought us a championship. Thank you!!
Ted Lerner saved the former Expos franchise. He got to see a WS victory. Scott Boras recently announced the team was for sale.
Is this the ultimate DFA?
Whoa! I guess so because he can’t opt out of this one. RIP. May his memory be a blessing.
97 goddamn. Homie just refused to die until the Nats won one. Kudos boiiiiiiiiii…
“AH ah ah ah stayin alive stayin alive”
Thank you Ted and RIP
Now that he is dead, I wonder if that slows down hurry to rebuild.
This rebuild is not being rushed or you would have seen a different kind of free Agent this year. We have the MLB youth in place to start competing but the farm needs a farm more draft picks and trades and the Youth still needs some seasoning Im hoping for curry]