Ted's Take

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Posts Tagged ‘Abe Pollin’

A Lot to be Grateful for - A Lot to Mourn and Miss

Thursday, December 24th, 2009

It is the heart of the holiday season, the festive week of Christmas to New Year’s. It is time to reflect and be grateful for what we have and not miss what we don’t have.

Last year this time we all were feeling doom and gloom. The market was down. There were no loans to be had. People were losing jobs left and right and the aura and psychology of the market and the overall economy was really bad.

As we close on 2009, I must confess that the year was one of goodness and counter intuitive wins mixed with sadness.

I am most grateful for the health of my family and friends.

And the Washington Capitals had a magnificent twelve months on the ice and off the ice. We had a really great record. We finished last year strong and won our first playoff series in 10 years and we are now well positioned for this next year. We also sell out all of our games. We have a backlog of people awaiting season tickets. We were able to raise our prices and we have very happy customer satisfaction levels. Who would have thought we could be that successful in this economy? I am very grateful to you all.

The Washington Mystics also grew quite fast and became one of the best performing teams in the WNBA and turned their on court performance around as well as we qualified for the playoffs.

Revolution Money grew fast; built out its platform; and - as was reported in November - was acquired by American Express at a healthy return to investors. We await final approval by the government but I believe this deal will close sometime in Q1 of 2010. This was the third largest acquisition of a new media payments platform ever behind PayPal and Bill Me Later (both by eBay) so it was a big win for us all and I am very excited about helping the American Express Company in the future as we roll out this platform into a new series of great consumer beneficial products and services.

(more…)

A Cut Above

Wednesday, December 9th, 2009

Here is a wonderful story about the generosity of Mr. Abe Pollin.  It sums it up best what he was all about. We can all learn a lot about life and generosity of spirit from Abe.

Many of us attended the public memorial service for Mr. Pollin last night and shared many stories about his life and career.

Our thoughts and prayers continue to be with the Pollin family during this time of mourning.

Up and At ‘Em

Friday, November 27th, 2009

I was up at 4:45 am as I am returning for the day from a family vacation in Florida to attend the funeral of Mr. Pollin.

The press and public reaction to this great man’s passing has been nothing short of phenomenal. Mr. Pollin was a beloved figure in DC and I typed in his name into Google news today and saw a whopping 1,146 articles about him and his life and times since Wednesday.

He was that important of a figure and that great of a man.

I apologize to all media that have asked to interview me. I have declined every single interview to date. We have only sent out one formal statement and I wrote one short op-ed piece in the Washington Post. I did not think it was respectful to Mr. Pollin’s memory to go out and do press interviews and if I did one, then I would have to do them all.

I lost my father a couple of years ago. I empathize with the pain of that kind of loss. There is an appropriate time for everyone to mourn and grieve. I appreciate you understanding and for showing respect and decorum.

President Obama Statement on Mr. Pollin

Wednesday, November 25th, 2009

The White House just released the following statement. Truly an amazing testament to the legacy of Mr. Pollin.
President Barack Obama

Statement on the Death of Abe Pollin

November 25, 2009

 

Michelle and I were deeply saddened to hear about the passing of Abe Pollin - a giant in the world of professional sports and someone I was proud to call a friend. Abe was a man who knew that being an owner wasn’t just about winning championships, although his teams had plenty of success. It was about helping young athletes become good people as well as good players. And it was about being part of a community. Abe believed in Washington, D.C. when many others didn’t - putting his own fortune on the line to help revitalize the city he loved. He was committed to the teams he guided, generous to those who needed it most, and as loyal to the people of D.C. as they were to him.

 

Our thoughts and prayers are with his wife Irene, his sons Robert and James, and the entire Pollin family.

 

 

-Barack Obama

Remembering Abe

Wednesday, November 25th, 2009

Here is my op ed piece in today’s Washington Post regarding Mr Pollin.

There are very heartfelt words from me and everyone else in our community regarding his life and times.

Official Statement from Washington Sports and Entertainment

Wednesday, November 25th, 2009

Here is the statement from Washington Sports and Entertainment regarding the passing of Mr. Pollin. The quotes honoring Mr. Pollin’s legacy say it all, don’t they?Washington Wizards and Washington Sports & Entertainment Mourn the Passing of Chairman Abe Pollin

Longest-Tenured Owner in NBA Leaves Legacy of Giving and Economic Resurgence

 

Washington, D.C. - The Washington Wizards and Washington Sports & Entertainment today mourn the passing of their Owner and Chairman, Abe Pollin, at the age of 85. Pollin leaves behind his wife, Irene, and two sons, Robert and James, as well as two grandchildren (Hannah and Emma) and a great granddaughter (Ruth). Pollin passed away with his family by his side.

 

In 46 seasons of ownership of the Washington Wizards, Abe Pollin held the distinction of being the longest-tenured owner in the National Basketball Association. From the time he became an owner in 1964, Pollin played an integral role in steering the NBA from a small, regional league to a worldwide presence on the business landscape. All the while, Pollin strived to make his franchise an industry leader on two fronts - the basketball court and the community - combining his love of sports with dedication to public service.

 

Pollin was at the center of some of the most historic events in the NBA during his time at the helm of the Washington franchise, and he reached the pinnacle of the sport in 1978 when his Bullets, behind the play of Wes Unseld, Elvin Hayes and Bob Dandridge, brought a World Championship to Washington.

 

As the majority owner of Washington Sports & Entertainment, Pollin oversaw the operations of the Washington Wizards, the Washington/Baltimore Ticketmaster franchise, and the management of three multi-purpose facilities throughout his career: Capital Centre, Verizon Center and The George Mason University Patriot Center. Pollin also formerly owned and operated the NHL’s Washington Capitals and the WNBA’s Washington Mystics before their respective sales within the past decade.

 

Perhaps Pollin’s greatest accomplishment was the private financing and construction of Verizon Center in downtown Washington, D.C., and the subsequent economic resurgence of the surrounding neighborhood. In 1995, Pollin broke ground on Verizon Center and stated two goals he had for the facility: to be the best and to revitalize downtown Washington, D.C. On December 2, 1997, Verizon Center opened with a victory for Pollin’s Washington Wizards in the building’s first-ever event. Since opening, the arena has installed the first true indoor high-definition scoreboard for an arena in the country and has been nominated for Arena of the Year by leading trade publication Pollstar. Hosting over 28 million people with over 2,600 concerts, family shows and world-class sporting events, Verizon Center is the centerpiece of $6.2 billion in redevelopment in the surrounding Chinatown neighborhood in downtown Washington, D.C. (Source: Downtown BID).

 

Verizon Center marked Pollin’s second state-of-the-art facility, as he previously owned and operated the Capital Centre in Landover, Maryland. In 1973, the Capital Centre was a building that was then what Verizon Center is now: an arena at the forefront of the sports and entertainment industry. The Capital Centre was the first arena to boast a series of unique features including electronic ticketing, one-of-a-kind luxury suite accommodations and never-before-seen telscreen video displays.

 

Along with the opening of Capital Centre, Pollin brought professional hockey to the nation’s capital for the first time. Defying long odds, Pollin secured an expansion franchise from the NHL, and the Washington Capitals were born. During Pollin’s ownership of the Capitals, the franchise made 15 playoff appearances, including an exciting run to the Stanley Cup Finals in 1998, the team’s first season at Verizon Center. Pollin sold the Capitals to Lincoln Holdings, LLC and majority owner Ted Leonsis in 1999.

 

Pollin also founded Washington’s WNBA franchise - the Washington Mystics - in 1997, and saw his franchise debut at Verizon Center on June 19, 1998, in front of 20,674 fans; the largest crowd ever to attend a women’s professional basketball game in the United States. In May of 2005, Pollin facilitated the sale of the Mystics to Lincoln Holdings and brought in Sheila Johnson as the Mystics President and Managing Partner. With Lincoln Holdings’ stake in the NBA’s Wizards and the NHL’s Capitals, Johnson became the first African-American woman to have ownership interest in three professional sports franchises.

 

Pollin’s success in the business of sports and entertainment was equaled only by his passion to use his fortune in life to make the life of others better. His philanthropic and humanitarian endeavors knew no bias or boundaries, evidenced by the numerous public service and community organizations to which he selflessly devoted enormous time and energy.

 

On December 3, 2007, the District of Columbia’s Mayor, Adrian M. Fenty, proclaimed “Abe Pollin Day” in honor of Pollin’s 84th birthday and his great contributions to the city. The Mayor also renamed F Street between 6th and 7th Streets NW as Abe Pollin Way. In 2009, Pollin’s alma mater, The George Washington University, inducted him into the school’s “Sports Business Hall of Fame.”

 

Abe Pollin moved with his family to the Washington, D.C. area from Philadelphia at the age of eight, and later graduated from The George Washington University in 1945. In 1957, the Pollin family launched their own construction company, and built several large apartment buildings and office buildings in Washington, D.C., one of which featured the first-ever rooftop pool.

 

Throughout his adult life, Pollin was hand-in-hand with his wife Irene Pollin, who has over three decades of experience in the health care profession. She created the first Medical Crisis Counseling Center developed to treat patients and families coping with chronic illness, and has developed Medical Crisis Counseling Centers at the Washington Hospital Center, as well as additional facilities in surrounding communities. As president and founder of the Linda and Kenneth Pollin Foundation and the Sister-to-Sister Foundation, she serves on a number of national advisory boards and commissions in fields of both mental and women’s health.

 

MEDIA CONTACTS: Matt Williams (202-628-3200 ext. 4532), Scott Hall (ext. 4536), Sheila Francis (ext. 6042), Brian Sereno (ext. 6044)

 

Quotes on the passing of Abe Pollin:

NBA COMMISSIONER DAVID STERN
“With Abe Pollin’s passing, the NBA family has lost its most revered member, whose stewardship of the Wizards franchise, together with his wife Irene, has been a study in unparalleled dedication to the city of Washington. During his illness he fought with a determination and valor that will remain an inspiration to all. We extend our deepest sympathies to Irene and his two sons, to whom he was so very devoted, and to the entire Pollin family.”

BULLETS LEGEND WES UNSELD

“I just lost a real good friend. I think it is more than any of you will ever understand. There is just going to be a big void in this community and even further out. He knew the whole scene. He could visualize it when people like me couldn’t understand it. He had that type of mentality.”

DISTRICT OF COLUMBIA MAYOR ADRIAN M. FENTY
“Today the District of Columbia has lost one of our greatest treasures. Abe Pollin almost single-handedly revitalized the Gallery Place / Chinatown neighborhood by turning down offers from suburban jurisdictions to finance and build the Verizon Center on 7th Street NW. My deepest condolences go out to Mr. Pollin’s family, most especially his wife Irene, who was always his partner, in sports, construction, philanthropy, and of course, family. Abe Pollin will be remembered in the District for adopting our city as his hometown, having lived in the area since the age of eight; for more than 40 years as owner of the Washington Wizards; and for being the original owner of the National Hockey League’s Washington Capitals and the Women’s National Basketball Association’s Washington Mystics. He will be truly missed.”

MAJORITY OWNER OF LINCOLN HOLDINGS TED LEONSIS

“We are all saddened by the news of Mr. Pollin’s passing. We extend our deepest sympathies to Irene, Robert, Jimmy, the rest of the Pollin family and his many friends and join them, and all of Washington, in mourning a great man. Mr. Pollin was a model philanthropist, an icon in the sports world and the individual responsible for founding the Capitals and bringing an NBA championship to our city. He was the catalyst in building a fabulous downtown arena that revitalized the surrounding area. Anyone walking down 7th Street, seeing the throngs of excited fans, the host of popular restaurants, hotels and nightspots, can attest to the lasting legacy of Mr. Pollin’s deep commitment to D.C. My partners and I were proud to work with him and his family during the last ten years and we are committed to continuing his tradition of building exciting, championship-caliber teams. When Lincoln Holdings bought the Capitals and a substantial percentage of Washington Sports & Entertainment from Mr. Pollin in 1999, he gave us the exclusive right to purchase the remaining portion of the Wizards, Verizon Center and the local Ticketmaster franchise. That agreement established an orderly process for conducting that transaction and it is our intention to follow that process. Now is not the time, however, to discuss that subject; our focus now should be on mourning a great man who has done so much for our city.”

 

WIZARDS PRESIDENT ERNIE GRUNFELD

“Mr. Pollin was a titan in the city of Washington and the NBA. His vision changed the landscape of the city, and his generosity and commitment to making his community a better place will be felt by many generations to come.”

 

PRESIDENT OF BUSINESS OPERATIONS & CFO PETER BICHE

“When we came there was sort of nothing here. Now there is stuff going on even when there aren’t games, and I think that is the true tribute to him. This building will be here for a long time and its impact is beyond the building itself. That is one of the great things he has done for this city. The guy is a lion as far as I’m concerned, in the sports world and also in the Washington community. They just don’t make them like that very often.”

 

CHIEF OF STAFF & EXECUTIVE VICE PRESIDENT MATT WILLIAMS

“There is nobody that wanted to win more than him. If we won a game, you knew it was going to be a good next day in the office and if we lost it was going to be a bad day. That is just the way it was and that is why he was in the business.”

 

BULLETS LEGEND/WIZARDS TV ANALYST PHIL CHENIER

“Every time I walk down the streets here in this area, the streets all lit up, I think about how this is Abe and Irene’s project. They started it all with this building and everything was built around it. Now this is the focal point of the city.”

 

HEAD COACH FLIP SAUNDERS

“What stood out was his passion he had for this team and his love for the city. More than anything, he wanted this team to be successful for the city. He wanted to win another championship. That is something that will always be on our mind.”

 

GUARD GILBERT ARENAS

“The first person I called was my dad because he was the father away from California. He wanted a championship before he died and as long as I’m here, that is what I’ll be shooting for. Through my injuries, through everything that has been going on, he’s the only one who has been by my side, him and the organization. It’s been a pleasure being his son away from his kids. He was loyal to his team and loved basketball.”

 

CENTER BRENDAN HAYWOOD

“I think he loved the Washington Wizards as much as his family. He really tried to inspire us, put a lot in to this organization, and I think we all owe him a debt of gratitude. I love Mr. Pollin. He was always a straight shooter, told you everything that was on his mind and you have to respect that.”

The City Lost Its Best Friend

Wednesday, November 25th, 2009

Abe Pollin was a giant. He was a role model; a loving husband; father; grandfather; friend; partner and mentor. He was a philanthropist. He was a mogul. He was beloved. He will be missed by all. May his soul rest in peace.

Words can’t express what he meant to the city of Washington DC; his courage; and his love for the city and the people within it. He truly loved our city. He truly loved his teams. He truly loved his family and his gigantic extended family. He was all about community and service to a higher calling.

Below is our official statement on the passing of Mr. Abe Pollin.

We all grieve today. The city lost its best friend.

We are all saddened by the news of Mr. Pollin’s passing.  We extend our deepest sympathies to Irene, Robert, Jimmy, the rest of the Pollin family and his many friends and join them, and all of Washington, in mourning a great man.

 

Mr. Pollin was a model philanthropist, an icon in the sports world and the individual responsible for founding the Capitals and bringing an NBA championship to our city.  He was the catalyst in building a fabulous downtown arena that revitalized the surrounding area.  Anyone walking down 7th Street, seeing the throng of excited fans, the host of popular restaurants, hotels, and nightspots, can attest to the lasting legacy of Mr. Pollin’s deep commitment to D.C.

 

My partners and I were proud to work with him and his family during the last ten years and we are committed to continuing his tradition of building exciting, championship-caliber teams.  When Lincoln Holdings bought the Capitals and a substantial percentage of Washington Sports & Entertainment from Mr. Pollin in 1999, he gave us the exclusive right to purchase the remaining portion of the Wizards, Verizon Center, and the local Ticketmaster franchise.  That agreement established an orderly process for conducting that transaction and it is our intention to follow that process.  Now is not the time, however, to discuss that subject; our focus now should be on mourning a great man who has done so much for our city. 

“I Can’t Say Enough Nice Things About Abe.”

Tuesday, March 10th, 2009

That was everyone’s sentiment at the event and in all of the news reports since.

What a beautiful event and what deserved recognition for Abe and his family.

We all support Mr. Pollin as a partner and as a philanthropist. As I have noted, he has done more for Washington DC than any individual I have ever met.

Read this article. Well done.

David Tweet Stern

Tuesday, March 10th, 2009

Here is a great article on the NBA’s David Stern. He was digital before digital was cool.

He believed in the potential of the web; was on email before most; and gets social media and the power of NBA.com and broadband and wireless.

It was so nice of him to come to DC yesterday to help honor Mr. Pollin.

A Nice Tribute to Abe Pollin

Monday, March 9th, 2009

Congratulations to Mr. Abe Pollin. He was inducted into the George Washington University School of Business Sports Executives Hall of Fame today. David Stern made a warm tribute to him and I attended the festivities to show my respect. Check out this blog post for more information.