Reports: Wizards sell minority stake to Qatar Investment Authority
The Qatar Investment Authority will purchase a 5-percent stake in Monumental Sports Entertainment, the holding company in Washington D.C. that owns the NBA's Wizards, NHL's Capitals and WNBA's Mystics, Sportico and WUSA 9 reported Thursday.
The minority sale would be a landmark as the first time a foreign sovereign fund has invested in major North American sports teams.
Owner and chairman Ted Leonsis founded Monumental