The Washington Nationals announced on Monday that millionaire real estate developer Ted Lerner, whose family purchased the team in 2006, had passed away. He was 97
According to a Nationals spokeswoman, Lerner passed away on Sunday at his Chevy Chase, Maryland, home from complications related to pneumonia.
Following the team’s relocation from Montreal to the nation’s capital, Lerner’s organization paid $450 million to Major League Baseball to acquire the Nationals. Prior to handing over control to his son Mark in 2018, he was the managing main owner.
The year when the Washington Senators defeated the New York Giants in the World Series was 1925, the year that Lerner was born. In order to become the Minnesota Twins, that team left the city in 1960. The expansion team that took its place for ten years before moving to Texas as the Rangers.
Before MLB took over and relocated the Expos from Montreal to Washington in 2005, the city lacked a baseball franchise. The Lerners’ team was selected as the successful bidder.
Ted Lerner Net Worth
According to Forbes, the Lerners started looking into selling the team last year, which is worth $2 billion. The Nationals and Lerner Enterprises, one of the largest real estate development and management companies, are credited with the family’s estimated $6.6 billion net worth.
According to Forbes magazine, his estimated family net worth is $6.6 billion. In 2006, he prevailed in a bidding war to acquire the Washington Nationals for $450 million. It was later ranked as MLB’s 12th-most valuable team, with a worth of $2 billion, before to the 2022 season.
Ted Lerner Wife
On June 17, 1951, Lerner wed his wife, Annette M. Lerner.
According to the records, Lerner established his real estate company, Lerner Enterprises, with a loan of $250 from his wife.
The Annette M. and Theodore N. Lerner Family Foundation was founded by Ted and Annette.
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