Friday, June 23, 2006

More changes for D.C. United

The Washington Business Journal sent me this item today (thanks!):

An investment group that includes Discovery Communications founder John Hendricks and former Duke University basketball star Brian Davis is nearing a deal to buy D.C. United from Colorado billionaire Philip Anschutz. The group has been assembled by D.C. United President Kevin Payne, who is heading the management-led buyout of the professional soccer team. Members of the investment group told city officials that a letter of intent has been signed and they expect the deal to close soon. The team is expected to fetch close to the $25 million that a different investment group agreed to pay before the deal fell apart in January.

Interesting to see that Anschutz is getting out of the soccer business. No problem, who needs an absent billionaire? Great news in that the group has the local connection:

Davis graduated from Bladensburg High School in Maryland in the late 1980s and helped lead Duke’s basketball team to two national championships in the early 1990s. He played briefly in the NBA. The combination of Hendricks, Davis and Barnette — Davis and Barnette are African-American — meets Payne’s goal of assembling an investment group that mixes local participation, minority involvement and real estate development experience.

I guess since the Nationals' ownership competition, minority involvement is a big thing again. Look, I'm all for diversity, but I don't remember it being such a huge deal until the Nats' pageant came to town. I like the idea of someone with local roots, who currently lives here and plans to stay a while. Actually, a better idea is someone who knows what they're doing when they get involved in these ventures and doesn't just see it as an investment (because it certainly isn't, in this area). Well, here's hoping for the best for all involved!

1 comment:

Anonymous said...

I've wondered why it's taken so long for news about this to break. I'm all for it. From what I'm told, the guys are a good lot who are really enthusiastic about ownership. Let's hope that stays.