Laurene Powell Jobs Rumors

Southeast Notes: Wizards, Ball, Miller, Martin, Isaac

January 13th, 2024 at 1:20pm CST by Rory Maher

Billionaire executive Laurene Powell Jobs plans to sell about half of her substantial stake in Monumental Sports & Entertainment, the holding company that controls the Washington Wizards, Capital One Arena, and the NHL’s Washington Capitals, according to Eben Novy-Williams and Scott Soshnick of Sportico. Powell Jobs will reportedly sell approximately 10% of Monumental.

The widow of Apple co-founder Steve Jobs, Powell Jobs is one of the wealthiest women in the world, with major shares in Apple and the Walt Disney Company. She is currently the second-largest Monumental Sports & Entertainment shareholder, only trailing managing partner Ted Leonsis, per Sportico. It’s unclear if that will remain the case once she sells 10% of the company.

As Sportico’s authors write, it’s too early to speculate on how much 10% of Monumental might be worth, but a smaller stake sold at a $4.05 billion valuation last year.

Here’s more from the Southeast:

Hornets star LaMelo Ball returned from a 20-game absence on Friday following a severe right ankle sprain, recording 28 points, five assists and five steals in 27 minutes. While the 22-year-old said he felt “great,” the blowout loss to San Antonio didn’t sit well with him, writes Roderick Boone of The Charlotte Observer. “It’s always good to play basketball, but (shoot), not like that,” Ball said. “But it was cool to get back out there.”
On the same day Ball returned, the injury-plagued Hornets lost No. 2 pick Brandon Miller to a lower back contusion, according to Boone, who says the young wing was still in discomfort after the game. “That definitely took a little bit out of us for sure,” head coach Steve Clifford said. “Hopefully, he’s OK and it’s not serious.”
Heat wing Caleb Martin recorded 11 points, four rebounds and two assists in 24 minutes during Friday’s win over Orlando, which marked his first game back from an ankle injury, as Ira Winderman of The South Florida Sun Sentinel relays (subscriber link). Martin had missed the past seven games with a right ankle sprain. “Caleb is so dynamic,” Bam Adebayo said. “He can score. He can defend. He can play point if you need him to. You can put him in so many different roles and he accepts that challenge.“
Magic big man Jonathan Isaac is on track to return on Saturday vs. OKC following a 10-game absence, tweets Jason Beede of The Orlando Sentinel. One of the team’s best defenders, Isaac missed nine games due to a right hamstring strain before missing a 10th game with an illness, Beede notes.

Laurene Powell Jobs Buying Stake In Wizards

October 3rd, 2017 at 12:53pm CST by Luke Adams

Billionaire executive Laurene Powell Jobs is set to purchase a substantial stake in Monumental Sports & Entertainment, the holding company that controls the Washington Wizards, Capital One Arena, and the NHL’s Washington Capitals. According to Thomas Heath of The Washington Post, Powell Jobs’ investment is expected to give her approximately a 20% stake in the company.

Powell Jobs, the widow of Apple co-founder Steve Jobs, is one of the wealthiest women in the world, with an estimated net worth of approximately $20 billion, per Heath. In addition to her shares in Apple, Powell Jobs also owns 4% of the Walt Disney Company, according to the Post’s report.

Powell Jobs’ investment in Monumental Sports & Entertainment will give her one of the biggest shares of the 19-member company, but Wizards owner Ted Leonsis will retain the largest share. Leonsis controls about 40% of the company, according to Heath. However, Powell Jobs’ investment should add some stability to the operation, as she has the resources to eventually purchase a controlling interest in the Wizards – and Capitals – if Leonsis wants to sell or retire.

“Leonsis retains the largest share, is majority owner, and remains chief executive,” a person close to the deal tells Heath. “Laurene was brought in for the growth and the future of the clubs. Ted will take Laurene’s counsel, and he will work to use the teams to benefit the city and the causes we all hold dear.”

The amount of money required for Powell Jobs to purchase a 20% stake in Monumental isn’t known, but it figures to be significant. Forbes’ most recent NBA valuations estimated the Wizards are worth $1 billion, but those numbers are often low — Forbes valued the Rockets at $1.65 billion and the team recently sold for $2.2 billion. Additionally, Powell Jobs isn’t purchasing just a 20% stake in the Wizards, but in Capital One Arena and the Capitals as well, so that would have to be taken into account for the sale price.