Laurene Powell Jobs buys stake in Washington pro sports teams
Laurene Powell Jobs, the wife of the late Steve Jobs, has bought a 20% stake in Monumental Sports & Entertainment, The Washington Post and CNET reported.
Monumental owns and operates the NBA's Washington Wizards, the NHL's Washington Capitals, the WNBA's Washington Mystics and Capital One Arena, which is the home arena for these teams.
"We have an agreement with Laurene Powell Jobs, founder and president of Emerson Collective, to join the Monumental Sports & Entertainment ownership group," Monumental said in a statement. "The process is underway and is pending league approvals."
The purchase will give Powell Jobs the second-largest stake in the 19-person Monumental group, behind CEO and Chairman Ted Leonsis, who owns around 40%.
Powell Jobs and Emerson purchased a majority share of The Atlantic magazine in late July.