Lerner family exploring potential sale of Nationals

Significant change could be afoot at Nationals Park.

The Lerner family, owners of the Washington Nationals for nearly 16 years, are exploring selling the team, managing principal owner Mark Lerner told Barry Svrluga of the Washington Post.

"This is an exploratory process, so there is no set timetable or expectation of a specific outcome," Mark said in a statement. "The organization is as committed as ever to their employees, players, fans, sponsors, and partners, and to putting a competitive product on the field."

While new ownership is one potential outcome, there's no guarantee the team will change hands. The Lerners are looking at all possibilities relating to ownership structure, including adding partners while keeping majority ownership in the family, Nationals spokeswoman Jennifer Giglio said to Svrluga.

Ted Lerner, Mark's father, bought the Nationals from Major League Baseball for $450 million in 2006, less than two years after the franchise moved to D.C. from Montreal. Ted, 96, transferred day-to-day operations to Mark in 2018. Forbes recently listed Ted's current personal worth at $4.5 billion, per Svrluga.

Under the Lerners' stewardship, the Nats were rebuilt into a powerhouse and experienced a golden era on the field. The team made five playoff appearances between 2012-19, winning four division titles and bringing Washington its first World Series championship in 95 years in 2019.

The franchise's worth has skyrocketed since 2006. Forbes last month valued the Nationals at $2 billion, ranking 12th out of 30 MLB teams.

The league's most recent ownership change occurred in 2020 when hedge fund billionaire Steve Cohen bought the New York Mets for $2.4 billion.