Ted Leonsis’s Monumental Sports & Entertainment group announced on Tuesday a long-term partnership with Comcast SportsNet Mid-Atlantic that gives the local sports mogul a piece of the regional sports network while also strengthening his own Monumental Sports Network.
The deal — which is still pending NHL and NBA approval — allows CSN to retain exclusive rights to Capitals and Wizards broadcasts. In a significant change, it also makes Monumental Sports an equity partner in CSN Mid-Atlantic, with two representatives on the network’s six-person board of directors.
Terms were not announced, but Monumental is believed to be receiving approximately one-third ownership of the regional sports network, something Leonsis has wanted since he acquired the Caps in 1999. The Post previously reported that the deal will run past 2030.
And rather than shuttering his fledgling Monumental Sports Network (MSN), Leonsis will attempt to expand it into a viable over-the-top regional content network. NBC Sports Group will obtain an equity partnership in MSN — with similar representation on its board of directors — and MSN will soon announce a subscription service offering live streaming of WNBA, Arena Football and NBA D-League games, and additional live content.
