Lerner says Nationals no longer for sale, takes team off market

The Washington Nationals are off the market.

Mark Lerner, the managing principal of the Lerner family that owns the team, told the Washington Post on Monday that the Lerners have decided to hold onto the franchise after exploring a potential sale.

At the start of the 2022 season, the Lerners said they were considering selling the team. At the time, the group said they were not committed to any timetable or outcome. 

“Nothing has really changed,” Lerner told the Washington Post on Monday. “We’ve just decided that it’s not the time or the place for it. We’re very happy owning the team and bringing us back a ring one day.”

Lerner said the decision not to sell was made “a while ago.” 

Rumblings about the Lerners’ plans began in September when Mark Lerner referenced the team’s future after giving a contract extension to general manager Mike Rizzo.

“We now believe we have the beginnings of a roster filled with promising young players and exciting prospects at nearly every position,” Lerner said in a statement in September. “While we once talked about winning World Series rings for our baseball-loving fathers, Mike’s family and ours now look forward to winning even more rings for our children and grandchildren — and, of course, for every other Nationals-loving fan and family everywhere. We are excited about our future.”

The Lerner family bought the Nationals from Major League Baseball in 2006, one year after the franchise moved from Montreal. Ted Lerner, who led the $450 million purchase, died in 2023, further clouding the future of the franchise. 

The Lerners had at least one offer since putting a “for sale” sign on the franchise.

In April 2023, the Post reported that the Lerners rejected a $2 billion offer from Ted Leonsis, who owns the Washington Wizards and Capitals. The report noted that Mark Lerner was looking for a larger offer.

Some baseball observers speculate that the relatively modest recent sale price of Washington’s closest rival likely undercut the Nationals’ market value.

The Baltimore Orioles sold in January for $1.7 billion, a price that industry analysts considered low given the team’s young core and recent success. 

In their 2023 rankings, Forbes marked the Nationals as the 16th-most valuable team in MLB with a $2 billion valuation. Despite the team’s value, Forbes noted that the team likely had issues finding a buyer due to its complicated broadcasting issues. 

The Nationals, alongside the Orioles, own the Mid-Atlantic Sports Network. The Orioles maintain a controlling 77% stake in the network. In Baltimore’s purchase agreement, no financial consideration was included for MASN, which has seen layoffs in recent years.

After years of dispute over rights fees, the two teams signed a $305 million agreement with MASN in December. The deal covered television rights from 2017 through 2021. 

With a potential sale on the horizon, Nationals fans came into the offseason with low expectations. The franchise met those expectations with a slow free agency period.

Washington spent just $9.25 million this offseason on free-agent acquisitions, ranking 24th in MLB. With the additions, the Nationals will have a 2024 payroll of $110 million, $50 million below the league average.

Washington only brought in a handful of free agents, each on one-year contracts. First baseman Joey Gallo ($5 million), who is 30 years old, reliever Dylan Floro ($2.25 million), and center fielder Nick Senzel ($2 million) join a roster that ranked as the sixth-youngest team in 2023.

With the news that Lerner decided not to sell “a while ago,” fans on social media are starting to question the team’s spending strategy. 

“So are they going to spend money and try to win now or … ” Jacob Stephens wrote on X. 

“Spend some damn money or be a cellar dweller forever,” another fan wrote. The Nationals have finished last in the NL East in four consecutive seasons.

Pitchers and catchers reported to spring training last week, while the team’s first full-squad workout is set for Tuesday.

The Nationals open the season March 28 against the Cincinnati Reds.