DCist Interview: Ted Leonsis
Recently we caught up with Washington Capitals owner and former Vice Chairman of America Online, Ted Leonsis, over email. Here's what Ted had to say about his role in the organization, his goals for the team, and his feelings toward the media. Please note that he uses emoticons without shame.
DCist: Now that you're completely retired from AOL, how much fun is it to get up every morning and not have to go to work?
Ted Leonsis: I actually am busier than ever. I still go into the AOL office a day per week to help. I go to the Caps and Mystics offices more often now, mostly because of the convenience of Kettler Capitals Iceplex. I have been working with sponsors and season ticket holders more than usual. As you know I have become a Filmanthropist. My first film goes into theaters in December and was just sold to HBO for a run on their networks. I am also hard at work on completing my second film, and have a third one in preproduction.
I am working on a book and I have become Chairman of a startup company called Gratis. I have joined some boards--made some angel investments in local companies including Clearspring Technologies. I am spending more time working out and getting healthy and I get to sleep a bit later--although this email is coming to you at 6:15 a.m. :-).
DCist: How was your first filmmaking experience?
TL: As to filmmaking, I believe the medium can be used to activate debate--shine a light on a tough subject--generate consumer volunteerism and charitable giving, while still being considered a "work of art."
I loved the process. I learned a lot. Nanking has been a big success, winning many awards on the film festival circuit and generating great reviews. Already in China it is the best selling foreign documentary in their history, with more than 1 million people going to the theaters to see it. The film was bought for international and domestic distribution and HBO has acquired the film. I intend to make many more films under the Filmanthropy umbrella.
Photograph (courtesy) of Ted Leonsis.
DCist: Which players are you most excited to watch in the team's upcoming camps?
TL: I am eager to see how our young players mature; Ovechkin, Semin, Green, Schultz, Eminger et al. I am interested in seeing how Backstrom adjusts to the NHL, and I am interested in seeing how our three new free agents chemically mix with our lineup. I do know now that we have much more depth than in the last two previous years and that camp will be very competitive.
DCist: Where do you see the NHL salary cap moving over the next couple years, and how are the Caps positioned for it?
TL: The NHL salary cap is inflated this season at $50 million. There was a one time accelerator of 5 percent that the union took advantage of, and the Canadian dollar is very very strong. $50 million times 30 teams is $1.5 billion, which is way more than 54 percent of league revenues. However, the real cap, league wide, is the mid point, $42 million.
That is what the media have refused to believe and understand. That is where our team will hover at and the appropriate place for a team such as the Caps with our revenues. We can all be competitive within this new CBA, and I am hopeful that discussions about the dollars spent on payroll will soon go away--do you know what the payroll is of the Charlotte Bobcats vs the Minnesota Timberwolves? How about: what do the NY Giants spend vs the New York Jets? Sooner or later the CBA will eliminate theses discussions.
DCist: What are your thoughts on the recent Sports-Express story about Alexander Ovechkin?
TL: I know Alex as a great player and a really terrific young man. I only deal with what I know and what I see with my own eyes. This is a special player and special human being--a once in a generation talent with a sweet personality and a great family providing a strong, mature foundation for him. As with any international superstar, there will always be speculation and innuendo written, but with media ethics today, I tend to disregard most of what I read and deal with what I know to be fact.
It is also why I have taken the media into my own hands and blog and communicate often on our web site, by phone and by email. We need to go direct to consumers and bypass media filters as much as we can.
DCist: What are your goals for this hockey season?
TL: My goals for this coming season are simple: have the team go on a steep incline of improvement, qualify for the playoffs, then see what happens once we get there. The rebuild is over. We will always seek to improve. We will have more young players fighting for roster spots, but we now have enough depth--a good mix of young stars and veteran players and good chemistry and coaching. We should up the bar now on our expectations. "If not now, when? If not us, who?"
Photograph of Jeff Schultz by Eli Resnick