Millions and millions of dollars are coming to the Washington Capitals through the expertise of Ted Leonsis.

Capitals' owner Abe Pollin announced the sale of his hockey team to Leonsis at a press conference last Wednesday, May 12, for a price that is believed to range from $150 to $200 million. Leonsis will take over as owner if the NHL Board of Governors votes him in next month. League commissioner Gary Bettman doesn't foresee any problems with the sale.

Leonsis has purchased 60-percent of the team. The remaining shares will be owned by Leonsis' partners; Washington entrepreneur Jonathan Ledecky, 30-percent, and Capitals President Dick Patrick, 10-percent.

The 42-year-old Leonsis is the President of AOL Studios in Northern Virginia and is considered by many in the computer business to be the founding father of the new media industry. Although he will soon own the Capitals, he won't be leaving his day job at AOL Studios.

Leonsis' job description reads like a who's who in the computer industry. He is responsible for AOL's activities in building local interactive networks, which consist of web and communications portals. He also helps build new networks for the small business market.

Leonsis leads the company in the development of classifieds, directories and IP Telephony; the latter of which is a software product that allows Internet users to place free phone calls to anyone with an Internet connection. Leonsis also pioneers ICQ, a popular alternative to e-mail that allows its 18 million registered users to interact in real-time with friends or associates.

The President of AOL Studios needs a new project, a new toy and new challenges in life. Owning the Capitals will satisfy these urges.

Leonsis hopes to do for the Capitals what he has already done for AOL. Before joining AOL Studios, a subsidiary of America Online, he worked for AOL Services Company. During his three-year tenure there, he helped the company grow from a base of 800,000 to eight-million members. The profits also grew from less than $100 million to $1.5 billion in revenues.

Most people with computers have received free AOL disks and CDs in the mail that include a free trial membership. This is the marketing ploy that helped AOL become one of the most popular companies among Internet users. A similar plan will be used by the Capitals. Because of these brilliant ideas, Leonsis has a net worth of about $1 billion.

Prior to joining AOL, Leonsis was the founder and CEO of Redgate Communications Corporation. The company, which was founded in 1987, is considered the first new media marketing company. Leonsis oversaw positions in database marketing, CD-ROM based shopping, private satellite networks, online services, custom publishing and consulting. The company was purchased by AOL in 1994 for $45 million.

Not to be outdone by Microsoft chairman Bill Gates, Leonsis introduced several key products in the computer field before becoming an entrepreneur. He worked with Apple on the introduction of the Macintosh, IBM on the PC launch and Wang on office automation. He also has written four books on the computer industry and founded four computer magazines.

As expected, Leonsis has won many awards for his work in the computer industry. These awards include being named one of the "200 Global Leaders of Tomorrow" by the World Economic Forum, one of the "Top 100 Marketing Executives" by Ad Age and being dubbed one of the "Top 12 Entrepreneurs" by the Inc. Magazine/Chivas Regal Entrepreneurs Program.

Leonsis' first priority is to use his marketing prowess to help fill empty seats at MCI Center. He realizes that hockey is a tough sale, because the sport doesn't look as good to fans on television as it does at the arena. Leonsis will try to fill the arena by holding focus groups with season ticket holders and by restructuring the methods in which tickets are sold.

He also is expected to give the Capitals the skilled players they sorely need to compete with the top teams in the Eastern Conference.

Leonsis' Top 10 List

The Top 10 Ways Leonsis Will Help The Capitals Get Back into Playoff Contention

10. Awarding good play with trial memberships on AOL.
9. Installing computers in player's stalls.
8. Punishing bad play by infecting players' computers with viruses.
7. Building a firewall defense.
6. Labeling referees who call poor games, "Web-TV-Ites."
5. Blanketing the boards and center ice with AOL advertisements.
4. Employing hackers to poison other teams.
3. Renaming "Velocity Grill," "The Members Area Kitchen."
2. New mascot: ALF.

[drum roll............drum roll.........drum roll..........drum roll......]

1. The new message users will hear when logging onto AOL: "You've got injuries!"

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