Father, Entrepreneur and billionaire real estate developer, Ted Lerner, has died. The Lerner family bought the Washington Nationals in 2006 and Ted served as the managing principal owner until relinquishing that role to son Mark in 2018. The Nationals organization announced Monday that Ted Lerner died Sunday of complications from pneumonia at his home in Chevy Chase, Maryland.
The Nationals were purchased from Major League Baseball in 2006 by the Lerner’s group for $450 million after the team was moved to the U.S. capital from Montreal. While under the Lerners’ ownership, the Nationals became World Series champions in 2019 and helped revitalize DC’s Navy Yard area since the Nationals Park opened in 2008.
“It is with great sadness that we announce the passing of Founding Managing Principal Owner Theodore N. Lerner,” the team said in a statement. “The crowning achievement of his family business was bringing baseball back to the city he loved — and with it, bringing a championship home for the first time since 1924. He cherished the franchise and what it brought to his beloved hometown.”
Lerner was born in 1925 and died at 97.
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