The Washington Nationals are expected to be put up for sale this year and billionaire Michael B. Kim is emerging as the latest candidate to potentially buy Washington D.C.’s MLB team.
Barry Svrluga of The Washington Post first reported in April that the Lener family hired investment bank Allen & Company to evaluate the possibility of selling the MLB franchise. Weeks later, the Lerners. began providing interested buyers with the team’s financial records.
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Widely viewed as a critical step towards a potential sale, multiple bidders have since emerged with interest in the team. Unsurprisingly, Ted Leonsis was among 28 “interested parties’ even at a sale price that is expected to surpass $2 billion.
Now, with Washington’s baseball team seemingly on a path to being a part of the biggest team sale in MLB history, another name has emerged who could buy the team.
According to Barry Svrluga and Chelsea Janes of the Washington Post, billionaire Michael B. Kim is among the potential buyers involved in pursuing ownership of the Nationals.
- Michael Kim net worth (Forbes): $7.7 billion
Born in South Korea, Kim rose to prominence as the cofounder of MBK Partners. After working for the Carlyle Group, Kim founded his own private equity firm that manages more than $20 billion in assets.
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According to The Post, Kim toured Nationals Park last week with team officials. It’s a step the organization is taking with every prominent buyer or group interested in purchasing the club.
Of note, per Svrluga and Janes, none of the five to six individuals and groups who have toured Nationals park with team officials are tied to the region. However, it’s not an indication that relocation would be possible with any sale.
Leonsis, who owns the Washington Capitals and Washington Capitals (NHL, Washington Mystics (WNBA) and Washington Wizards (NBA) through Monumental Sports and Entertainment, reportedly hasn’t signed the nondisclosure agreement MLB requires for any potential buyer.
While the Lerner family hasn’t publicly indicated that a sale will happen, it’s the foregone conclusion in Washington. Between the steps being taken to court potential buyers and the level of interest received, it wouldn’t be a surprise if the Washington Nationals are sold within the next year.
Steve Cohen bought the New York Mets for an MLB record $2.4 billion in 2020. Based on the trajectory of MLB revenue in the coming years and the D.C. market, there’s a realistic chance the Nationals go for even more than that.