Leonsis close to purchase of Wizards

Updated: April 28, 2010, 10:16 AM ET
Associated Press

ARLINGTON, Va. -- The family of late Washington Wizards owner Abe Pollin has agreed to the "major economic terms" of a deal to sell its stake in the NBA team to Washington Capitals owner Ted Leonsis.

Leonsis, a former AOL executive, and the Pollins ran into some snags in talks this year. But in a statement Tuesday, Pollin's sons, Robert and James, said they and their mother, Irene, congratulate Leonsis on this "near-final step in a long negotiation."

A person familiar with the negotiations ...

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