Owner of the Washington Nationals
Ted Lerner headed a group that was announced in May 2006 as the buyers of the Washington Nationals. The group, which also included Lerner's son Mark, paid $450 million for the club.
Lerner made his fortune in real estate in the Washington, DC area. He also has an ownership stake in the Washington Capitals of the NHL, the Washington Wizards of the NBA, and the Washington Mystics of the WNBA.
After graduating high school in 1943, Lerner served with the U.S. Army through the end of World War II. He then went on to attend The George Washington University, where he received first an Associate of Arts and later an LLB from The George Washington University Law School. Lerner and his wife, Annette M. Lerner, married on June 17, 1951.
Theodore N. and Annette M. Lerner have three children: Mark D. Lerner, Debra Lerner Cohen and Marla Lerner Tanenbaum, they married Judy Lenkin Lerner, Edward L. Cohen, and Robert K. Tanenbaum respectively. Ted Lerner has 9 grandchildren.
Lerner Enterprises is a real estate business founded in 1952 by Ted Lerner in Rockville, Maryland, United States, and operates primarily throughout the Washington, D.C. metropolis. It is wholly owned and operated by the Lerner family. Among the Lerner Enterprises ventures is a partnership in Chelsea Piers, a 30-acre (120,000 m2) sports and entertainment complex on the Hudson River in New York City; the Tysons II commercial development; shopping centers including White Flint and Dulles Town Center; and thousands of homes and apartments, along with numerous office buildings. Lerner also played a role in developing other shopping centers in the Washington area, including Tysons Corner Center and Wheaton Plaza.
The Washington Nationals franchise was formerly owned and operated by Major League Baseball from February 15, 2002 until the official transfer of ownership on July 21, 2006. Lerner's wealth comes from his real estate business, Lerner Enterprises, which is wholly owned and operated by the Lerner family. Lerner Enterprises is headed by Lerner and the principals of the company are his son Mark D. Lerner and his sons-in-law Robert K. Tanenbaum and Edward L. Cohen. They and their families are also principal owners in the Nationals.
Monumental Sports & Entertainment
The Lerner Family is also a minority partner in Monumental Sports & Entertainment, which owns the NHL Washington Capitals WNBA, Washington Mystics, NBA Washington Wizards and Verizon Center. His daughter, Marla Lerner Tanenbaum, is president of The Annette M. and Theodore N. Lerner Family Foundation and chair of the Washington Nationals Dream Foundation.
The upper school campus of the Charles E. Smith Jewish Day School in Rockville, MD is named in his and wife's honor after a multi-million dollar donation to the school. The lunch room in the Melvin J. Berman Hebrew Academy was donated the Lerner Family.
* 1990 American Academy of Achievement's Golden Plate Award of Excellence
* Elected to the Washington Business Hall of Fame by Junior Achievement of the National Capital Area in 2003
* Elected to the Jewish Community Center of Greater Washington Sports Hall of Fame in 2007.
Sources and Links:
- Lerner Enterprises
- Washington Post article - Behind a Wall of Silence, Lerner Has Built an Empire
- Washington Post article - A Family That Plays Hardball
- Washington Post article - A Dynasty of Closed Ranks
Wikipedia and BR - BullpenBy TBP