Corporate Law News

Laurene Powell Jobs Buys Into Parent of Basketball’s Wizards

Oct. 4, 2017, 8:21 PM

Billionaire philanthropist Laurene Powell Jobs is buying about a 20 percent stake in Monumental Sports & Entertainment, a holding company led by Ted Leonsis that includes the NBA’s Washington Wizards, NHL’s Capitals and the Capital One Arena.

The investment from Powell Jobs, founder and president of the Emerson Collective, is pending league approvals, according to a statement from Monumental, which didn’t say how much she paid. Powell Jobs, who was part of a group that unsuccessfully bid on basketball’s Los Angeles Clippers, will have the second-largest stake in Monumental behind Leonsis, a former senior executive at AOL.

“That someone of...

To read the full article log in. To learn more about a subscription click here.