Ted Lerner, the billionaire real estate developer whose family bought the Washington Nationals in 2006, has died, the team announced Monday. He was 97.
A Nationals spokesperson said Lerner died Sunday of complications from pneumonia at his home in Chevy Chase, Maryland.Lerner’s group purchased the Nationals from Major League Baseball in 2006 for $450 million after the team was moved to the U.S. capital from Montreal. He was managing principal owner until ceding that role to son Mark in 2018.
Lerner was born in 1925, the year after the Washington Senators beat the New York Giants in the World Series. That franchise left the city in 1960 to become the Minnesota Twins, and its expansion replacement lasted a decade before moving to Texas as the Rangers. Last year, the Lerners began exploring the possibility of selling the team, which is worth $2 billion, according to, which estimates the family’s net worth is $6.6 billion thanks to the Nationals and Lerner Enterprises, one of the largest property-owning companies in the Washington area.
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