In 1999, Islanders new co-owner Jonathan Ledecky was part of a group that purchased the Washington Capitals. His stake of the group gave him 24% ownership of the team. Another member of the group was Ted Leonsis who made his career at AOL. In 2001 Ledecky sold his 24% stake in the Capitals to Leonsis giving Leonsis 100% control of the team.
The news of Ledecky getting back into the NHL ownership game caused his former partner Leonsis to issue a short congratulatory post on his blog yesterday.