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Article: Capitals Not Alone in Their Fear of the Market; Teams Shying Away From High-Priced Free Agents
- Article from:
- The Washington Post
- Article date:
- September 9, 1999
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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Occasionally, when Washington Capitals owner Ted Leonsis is
answering e-mail from fans, he'll come across a note chastising the
team for not spending more money on free agents over the summer. The
writer generally points out the following: The Capitals missed the
playoffs one year after making the Stanley Cup finals, they sorely
need to create awareness and excitement, and the new owners should be
making a splash entering their first season.
The fans ask Leonsis: Why haven't you done more?
The answer is a bit more complex than the query. When Leonsis and
his partners, Jonathan Ledecky and Dick Patrick, purchased the team
from Abe Pollin they knew the franchise was bleeding money, its
season ...