Pollin Sale Includes Part of Wizards

Abe Pollin plans to sell the NHL’s Washington Capitals and his minority interests in the NBA’s Washington Wizards and the MCI Center to an executive of America Online.

“I want to stress here and now that I am not retiring,” Pollin, 75, said Wednesday at a news conference in Washington.

AOL executive Ted Leonsis, along with partners Jonathan Ledecky and Capital president Dick Patrick, are investing about $200 million in the sale. About $85 million of that is the price for the money-losing Capitals.

Pollin said he decided to sell after his sons told him they had no interest in leaving their careers to take over his business.

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