US Washington-based multi-sport ownership group Monumental Sports and Entertainment (MSE) has announced that its chief financial officer (CFO) Peter Biché will be stepping back after over 25 years at the company.
MSE, which owns the Washington Capitals ice hockey franchise and the Washington Wizards men’s and Washington Mystics women’s basketball franchises, has retained executive hiring firm Heidrick and Struggles to lead the search for Biché’s replacement.
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Biché will remain in the role until a successor is found and will aid in the transition process for the new hire to ensure smooth continuity.
After serving as the managing director for [now defunct] investment bank Legg Mason between 1990 and 1996, Biché joined the group in 1996 as CFO when it was still called Washington Sports and Entertainment.
He will now serve as a senior adviser to MSE and the Leonsis family that controls it.
In particular, he will advise MSE founder and chief executive Ted Leonsis and president of media and new enterprises Zach Leonsis on the company's strategic objectives, particularly the major Capital One Arena redevelopment project.
Speaking on his departure, Ted Leonsis stated: “From the acquisitions of the NBA’s Wizards and WNBA’s Mystics to the creation of Monumental Sports Network, paired with our investments in athlete performance, esports, and sports betting, Peter has helped establish MSE as one of the world’s leading sports and entertainment businesses.
“There are still many exciting opportunities for MSE to explore, and we look forward to welcoming a new CFO who will help us progress our mission to innovate, expand our business, and deliver extraordinary experiences for our fans and partners.”
Biché himself added: “ It is a very exciting time to be in the sports, media, and entertainment industry, and I look forward to working with my successor to ensure a smooth transition and to help MSE and the Leonsis family capitalize on the many opportunities which lie ahead.”
The Capital One Arena project, announced in 2024, will see the venue expanded via improved hospitality, seating, and digital infrastructure. Currently, the arena, which hosts the Capitals and the Wizards, has a capacity of 20,356 for basketball and 18,573 for ice hockey.
The two franchises threatened to move before the District of Columbia committed $500 million to fund its renovation and the expansion of Monumental commercial and business offerings in the adjacent Gallery Place shopping center.
The two franchises will now remain in the city through 2050.
Along with the $500 million in public funding, Monumental will provide $15 million to improve access between the Capital One Arena and Gallery Place shopping center, along with $300 million to add a new training center for the Wizards on the top floor of Gallery Place.
Elsewhere in US sports, Angel City FC, of women's soccer league NWSL, have confirmed Carmen Bona as president of business operations.
The first person to ever hold that role, Bona will collaborate with chief executive Julie Uhrman to enhance the team’s revenue-generating operations across ticketing, merchandising, and commercial sponsorships, which will also bleed over into the financial area of the business.
Bona joins Angel City from the United Talent Agency, where she served as chief strategy and corporate development officer, overseeing strategic sports industry content planning.
Before that, Bona spent a decade at Boston Consulting Group from 2012 to 2022 as managing director and partner.
Commenting on the appointment, Uhrman said: “Creating this role is a key step in strengthening our leadership team, accelerating growth, and maximizing enterprise value.
“Carmen is a fantastic addition, bringing deep experience in media, sports, and entertainment that will be invaluable as we scale.”
