Qatar’s sovereign wealth fund QIA and Arctos Partners are purchasing passive minority stakes in Monumental Sports & Entertainment, the parent company of the Washington Wizards and Capitals. The deals value Monumental at $7.2 billion, according to multiple people familiar with the transaction.
QIA and Arctos are acquiring shares from Laurene Powell Jobs, who bought approximately 20 percent of Monumental in 2017. Powell Jobs was previously the largest shareholder outside of majority owner Ted Leonsis.
The exact equity percentages and payment distribution remain unclear. Neither QIA nor Arctos will receive board seats or governance rights as part of the deals, according to people granted anonymity because the details are private.
QIA previously purchased a 5 percent passive minority stake in Monumental in June 2023 at a $4.05 billion valuation. That deal marked the first time a sovereign wealth fund invested directly into a major U.S. sports team.
The new $7.2 billion valuation represents a 78 percent increase over the 2023 deal. Sportico values the Wizards and Mystics at a combined $4.78 billion, while the Capitals are worth $2.3 billion.
Both the NBA and NHL restrict institutional fund investment to a maximum of 30 percent per team. Individual funds can own up to 20 percent of a single franchise under league rules.
QIA manages $557 billion in assets, making it the ninth-largest sovereign fund globally. The fund is separate from Qatar Sports Investments, which owns Paris Saint-Germain.
Arctos Partners has completed approximately two dozen franchise deals across all five major U.S. sports leagues. The firm’s portfolio includes stakes in the Golden State Warriors, Liverpool, Boston Red Sox, and Tampa Bay Lightning.
The deals have been presented to NHL and NBA owners, according to sources. Representatives for Monumental, Arctos, and Emerson Collective declined to comment.