Mark Lerner has become the new managing principal owner of the Washington Nationals, succeeding his father Ted at the helm of the Major League Baseball (MLB) franchise.
The 92-year-old Ted Lerner has stepped down from the position he has held since the family business, real estate company Lerner Enterprises, acquired the Nationals in a $450m (€381.3m) deal struck in 2006.
The succession plan was approved and formally ratified at MLB’s quarterly ownership meetings in New York yesterday (Thursday).
Mark Lerner (pictured), 64, has served as one of the principal owners of the Nationals, having worked alongside his father in the family business for more than four decades. He has said the Lerner family have no intention of selling the team.
“We will never sell the Nationals,” Mark Lerner told the Washington Post newspaper. “That’s what we’ve worked to get all those years. We think we do a pretty good job of it. There’s no intention of this family — certainly while I’m alive and my sisters and brothers-in-law are alive — nobody’s going to sell this team.”