Washington Nationals Get New Owner and Break Ground on New Stadium

Theodore N. Lerner, the owner of a Bethesda, Maryland based real estate company, has agreed to pay $450 million for the Washington Nationals Baseball Team. Lerner was one of eight entities that bid on the team. The Lerner family is expected to take possession of the team in June. A new $611 stadium will be built near the Navy Yard and the Anacostia River. The city will hold an official groundbreaking ceremony on May 4, 2006 at 10 a.m. The new stadium is projected to open for the spring baseball season of 2008. Read more about the Building of South Capitol Ballpark in Washington, DC