Washington Nationals owner Ted Lerner has died

Washington Nationals baseball team owner Ted Lerner has died, a team spokesperson said Monday. He was 97.

Lerner died Sunday from complications from pneumonia, said Jennifer Mastin Giglio, the team's chief communications officer.

Lerner before becoming the principal owner of the Major League Baseball team was a real estate titian in the greater Washington, D.C., area.

Lerner started his real estate business in 1952 with a $250 loan from his wife, Annette, according to The Washington Business Journal. 

He then grew the business into the largest and most-diversified private development group in the country. 

The Lerner family's net worth is now estimated at about $6.6 billion, according to Forbes. The family bought the Nationals for $450 million in 2006, after the franchise moved to Washington from Montreal.

The family has been considering selling team or an ownership stake. Ted Lerner's son, Mark, became managing principal owner in 2018. The team won the World Series in 2019, The Journal also reports.