Appraisers to determine value of Wizards, Verizon Center – The Post
The sale of the Washington Wizards, Verizon Center and the local Ticketmaster franchise to Ted Leonsis by the Abe Pollin estate is entering round 2. After falling to come to an agreement over the last 10 days the Pollin estate and Leonsis will each have appraisers advise them on the value of the assets. If they can’t come to an agreement then, a third round with an appraiser chosen by both sides would make a determination. If that is not satisfactory, the Pollin estate could offer the team to a third party. Leonsis would have the right to match that offer.

This is a disappointing development, but try not to be alarmed. Both sides are playing a little hard-ball right now and hopefully it will result in a sale to Leonsis. The critical part of the sale is the Verizon Center, since Leonsis’ Capitals have been in an unfavorable lease with Pollin’s Washington Sports & Entertainment. Leonsis’ Lincoln Holdings currently owns 44% of WS&E.

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