After 16 years of ownership, the Lerner family has reportedly begun exploring the possibility of making “changes in the club’s ownership structure,” which include a potential sale of the team, according to Barry Svrluga of The Washington Post.
Mark Lerner, the son of real estate magnate Ted Lerner, who originally bought the team in 2006, has hired New York investment bank Allen & Company to research potential investors and buyers, though called the move “exploratory” in a statement to the Post.
“This is an exploratory process, so there is no set timetable or expectation of a specific outcome,” Lerner said. “The organization is as committed as ever to their employees, players, fans, sponsors and partners and to putting a competitive product on the field.”
