Breaking news: Ted Lerner dies at 97. The real estate magnate became the owner of the Washington Nationals and oversaw their rise to prominence.
The cause was complications from pneumonia, said Nationals spokeswoman Jennifer Mastin Giglio.
A onetime usher at Washington’s old Griffith Stadium, where the Senators played in his youth, Mr. Lerner plowed $450 million of his fortune into the Nationals, purchasing the team from Major League Baseball in 2006, one year after the franchise moved from Montreal to Washington. In 2018, Mark Lerner said, “We will never sell the Nationals.” But in April 2022, with the club valued at $2 billion,‘Silent Ted’at Roosevelt High School in the District in the 1940s, Mr. Lerner studiously avoided the limelight while building one of the largest privately held real estate companies in the region.His company, Lerner Enterprises of Rockville, Md., constructed more than 22,000 houses and 7,000 apartments in the Washington area.
In 2002, Major League Baseball took over ownership of the financially strapped Montreal Expos and two years later announced that the franchise would move to Washington. Mr. Lerner led one of several groups competing to buy the Expos. Through the 2007 season, the Nationals played at aging Robert F. Kennedy Stadium. The Lerner family promised to invest heavily in the team and develop land around the new $611 million baseball stadium built with city financing on the Anacostia waterfront.
Mr. Lerner and his ownership team were sometimes criticized for signing some players to contracts with deferred compensation, meaning the full value would not be paid out for years — sometimes long after a player had left Washington. After the team lost a hard-fought division series to the Chicago Cubs in 2017, popular manager Dusty Baker was not retained when his contract expired, even though he had led the team to 95 and 97 wins in consecutive seasons.
In 2019, the Nationals overcame a slow start — the team was 19-31 after 50 games — to win several dramatic postseason games before triumphing over the Houston Astros in Game 7 of the World Series. AfterAscent in real estate After Army service in Texas during World War II, he received an associate’s degree from George Washington University in 1948. Two years later, he graduated from the university’s law school and began his ascent in real estate. A local builder challenged him to sell 25 homes, and Mr. Lerner went well beyond that goal.. “I had one house completely wrapped in cellophane with a huge red bow. Santa Clauses stood on each corner.” He sold 100 homes, convincing him that he had a “feeling for real estate.
To keep out competition, Mr. Lerner and partners bought more than 100 acres of farmland across from Tysons Corner Center and eventually built what is now Tysons II.
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