Ted Leonsis

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Ted Leonsis
Ted Leonsis at the 2009 D.C. Chamber of Commerce Gala
Born
Theodore J. Leonsis

(1957-01-08) January 8, 1957 (age 67)
Brooklyn, New York, United States
EducationGeorgetown University
Occupation(s)Owner, Washington Capitals, Washington Wizards, Washington Mystics, Verizon Center, Chairman SnagFilms, Clearspring Technologies, Revolution Money
SpouseLynn
Children2
WebsiteTed's Take

Theodore Leonsis (born January 8, 1957 in Brooklyn, New York[1]) is an Internet pioneer, sports team owner, investor, filmmaker, author and philanthropist. His early new media company, Redgate Communications was acquired by America Online in 1994, and Leonsis became a senior AOL executive for the next 13 years. He is currently owner of sports properties, including the NHL's Washington Capitals & NBA's Washington Wizards.,[2] Chairman of Revolution Money, SnagFilms, and other companies, the producer of documentary films such as the Peabody and the Emmy Award-winning Nanking and the author of The Business of Happiness.

Biography

Leonsis was born to Greek American parents in Brooklyn, and spent his early years there.[3] His parents worked as a waiter and a secretary.[4] After skipping 8th grade, Leonsis attended Brooklyn Tech but before graduation, his family moved back to their hometown of Lowell, Massachusetts.[1] He graduated from Lowell High School in 1973 and Georgetown University in 1977.[5] After graduation, Leonsis moved back to his parents' home in Lowell and began working for Wang Laboratories.[1]

After surviving an airplane crash landing in 1983, he drafted a list of 101 things to do in life and has completed many of the tasks, including owning a sports franchise.[6] Leonsis lives in McLean, Virginia, and Vero Beach, Florida, with his wife and two children.

Leonsis was named Businessperson of the Year in 2001 by Washington Business Journal[7] and Washingtonian of the Year by Washingtonian Magazine.[8] In 2009, Leonsis was named one of Washington's Tech Titans by Washingtonian Magazine.[9]

AOL and other businesses

Brought on to help AOL compete with Microsoft,[10] his career with AOL started in 1993 when AOL purchased his marketing company, Redgate Communications Corp. "From '94-'97, Leonsis helped increase AOL's membership from fewer than 800,000 members to 8 million. Revenue also increased from $100 million to $1.5 billion." [11] Leonsis retired in 2006. He held numerous positions at AOL during his years there, completing his tenure as the audience group's president and vice-chairman.[12] He now serves as vice chairman emeritus of AOL.

Leonsis currently serves as founding chairman of SnagFilms, a social media website that lets viewers watch and share documentary films.[13] He is also chairman of Clearspring Technologies[14] and Revolution Money, a subsidiary of Revolution LLC, the investment company created by Steve Case.[15] In July 2010, Leonsis was elected to the Board of Directors of American Express, he chairs the New Innovation and Technology Committee.[16] In December 2008, Leonsis was named to the board of NutriSystem, Inc.[17] In June 2009, Leonsis was appointed as member of Alcatel-Lucent Board's Technology Committee.[18] Leonsis also serves on the board of Groupon[19] and Rosetta Stone.[20] Leonsis is currently on the board of directors at Georgetown University, his alma mater.[21] In 2010 Leonsis authored, The Business of Happiness.

Sports team ownership

Leonsis watches the Capitals practice

Leonsis is the majority owner, chairman and CEO of Monumental Sports & Entertainment, the sports and entertainment group which on June 9, 2010 became owners of the NBA’s Washington Wizards, NHL's Washington Capitals and the WNBA's Washington Mystics, the Verizon Center and the Baltimore-Washington Ticketmaster franchise.[22]

Filmmaking

Leonsis speaking at the Tech Council of Maryland.

Leonsis has become involved in film investing as a philanthropic interest, which he calls "filmanthropy". "The driver of filmanthropy is that the world is more screwed up every day and people want to call attention to issues," he told the Financial Times.[23] His first production was the documentary Nanking which made its world premiere at the 2007 Sundance Film Festival.[24] The 2009 Best Historical Programming Emmy and 2008 Peabody Award winning[25] film is based on the best selling book The Rape of Nanking by Iris Chang.

In 2008, Leonsis produced Kicking It, a documentary by Susan Koch about the 2006 Homeless World Cup. The film, narrated by actor Colin Farrell, featured residents of Afghanistan, Kenya, Dublin, Charlotte, North Carolina, Madrid and Saint Petersburg. The film premiered in January, 2008 at the Sundance Film Festival and is being distributed by Liberation Entertainment, Netflix and ESPN.

Public image

Philanthropy

Leonsis is a mentor through the Hoop Dreams program. Through Hoop Dreams, Leonsis was able to guide Michael Hendrickson into and through his first choice college. Leonsis and Hendrickson continue this relationship today.[26] About Hoop Dreams, Leonsis has stated, “"The Hoop Dreams Scholarship Fund is extraordinary and this Tournament really brings together so many different segments of the city to do something good for the youth of DC. Together, we can help make the educational dreams of hard working students a reality."[27]

In addition, Leonsis is a contributor to the See Forever Foundation[28] and to YouthAIDS.[29] He also sponsors his own philanthropic foundation,the Leonsis Foundation, dedicated to creating “opportunities for children that enable them to reach their highest potential.” The Foundation “partners with and supports organizations with the creativity, skill and dedication to help children overcome obstacles and achieve their goals.” [30]

On November 20, 2010, Leonsis was inducted into the Washington Business Hall of Fame due to his work in AOL, Washington’s major sports, filmmaking and donations to local charities.

Controversies

Other witnesses said that Leonsis pushed through the crowd to reach Hammer and had to be restrained. Though cut on his face and bruised on his knee, Hammer decided not to press charges against Leonsis.[31] Following the incident, Leonsis was fined $100,000 and suspended for a week, during which he was prohibited from having any contact with the team, including attending any games or other team functions. [32] ESPN commentator Jim Kelley said that the penalty should have been more severe. Kelley wrote that Leonsis "violated" a "basic tenet of the sports business" and that "$100,000 doesn't seem like nearly enough." [33] In an editorial, The Washington Times advised readers to "lock your doors" after Leonsis said that "I'll go to their house" and "I'll sit with them" as a way to build his relationship with fans. [34]

Bibliography

  • Leonsis, Ted. 1984. Software Masters for Pfs. Clayton: Warner Books.
  • Leonsis, Ted. 1984. Software Masters for Pes: Apple Version (48k). Clayton: Warner Books.
  • Chposky, James and Ted Leonsis. 1988. Blue Magic: The People, Power and Politics Behind the IBM Personal Computer. New York: Facts on File Publications.
  • Leonsis, Ted. 2010. The Business of Happiness: 6 Secrets to Extraordinary Success in Work and Life. Regnery Publishing, Inc.

References

  1. ^ a b c Transcript: Ted Leonsis
  2. ^ Washington Capitals
  3. ^ Ted's Take - The American Dream
  4. ^ Power Profile: Ted Leonsis: The former dot-com pioneer tackles new challenges in sports and filmmaking - Examiner.com
  5. ^ Ted's Take - The College Experience
  6. ^ ESPN.com - Page2 - 101 things to do in D.C. when you're Ted
  7. ^ Ted Leonsis: Businessperson of the Year December 28, 2001
  8. ^ Past Washingtonians of the Year January 29, 2008
  9. ^ Washington's Tech Titans May 1, 2009
  10. ^ Swisher, Kara. 1998. AOL.COM: How Steve Case Beat Bill Gates, Nailed the Netheads, and Made Millions in the War for the Web.New York: Three Rivers Press
  11. ^ USA Today , 2000.
  12. ^ "Leonsis Pulls Away From Helm of AOL". The Washington Post. September 15, 2006.
  13. ^ SnagFilms
  14. ^ Clearspring Technologies
  15. ^ Revolution Money
  16. ^ American Express
  17. ^ Philly.com
  18. ^ [1] Press Release
  19. ^ [2]
  20. ^ [3]
  21. ^ Georgetown Board of Directors, 2008-2009
  22. ^ Ted Leonsis-Led Group Completes Acquisition of Washington Wizards
  23. ^ FT.com / Wealth / Philanthropy - Shooting the message
  24. ^ The Hollywood Reporter
  25. ^ Politico
  26. ^ A Push in the Right Direction, Washington Post, May 20, 2005.
  27. ^ Hoop Dreams Press Release June 8th, 2008.
  28. ^ See Forever Press Release, January 2007
  29. ^ Washingtonian.com, "A Night Out: YouthAIDS Gala", October 30, 2006
  30. ^ Leonsis Foundation.
  31. ^ Capitals' Owner Clashes With Fan at Game, Washington Post, January 27, 2004.
  32. ^ Leonsis involved in incident with fine, EPSN, January 29, 2004.
  33. ^ Leonsis deserves more severe penalties, EPSN, January 28, 2004.
  34. ^ No shock this owner is angry, Washington Times, January 28, 2004.

External links

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