OK folks, Ted and I are both here, so we're about ready to go. Keep sending in your questions, though we've got a few to start out with that I'll fire Ted's way.
Remember to click on the link above to get your questions in -- and keep refreshing this page.

And, here's Ted:

Hi everyone. I want to start off by saying thanks to the Washington Times for their great coverage of our team.

They have been making big investments in covering us; we all miss Dave Fay and somewhere he is smiling down on all of us tonight.

OK, here's our first question:

From Dan:
Howdy Ted. Recently you mentioned that you expected to lose about $10 million this year. Now that the team has powered its way into the playoffs – does this mean that you can revise your estimate a bit lower? Is there a point during the post season where you could conceivably break even -- perhaps when we reach the finals?

Ted Leonsis:
In regards to revenues for playoffs-- the answer is not really-- the new cba includes revenue sharing-- and those dollars come from playoff games partially. We also have such low ticket prices that it is hard to climb out of that hole; in Montreal -- their tix as an example are 40 dollars per tix higher than our -- on average. Do the math: $40 times 20 k seats is more than we do in gate for a game.

So I am not worried about our income statement -- only about our fans happiness and the team's performance in playoffs.

From Stephen:
The Capitals fans have really come to love watching Cooke, Huet, & Federov, what are the chances we can see them signed for future terms?

Ted Leonsis:
Why focus on offseason when we have a playoff game in a couple of hours? :)

I like 'em too -- but there is their desire as free agents--our budget-- the cap--and where do players play when our injured players return-- George will take that all in the mix and I am sure we will do the right things the right way.

The good news is that free agents want to play in DC now. This run and our fan support has been very helpful, along with Kettler Capitals Iceplex and the Redouts.

The team is young and good and on an upswing; we can attract and keep players now.

From dwhelp@aol.com:
Do you have certain rituals for big games, like a lucky tie or socks or guests at a game?

Ted Leonsis:

I do now.. what I listen to on iPod when working out -- I have to wear my red Caps home jersey and I have a certain lucky watch. And I have a Georgetown Jesuit priest in the box tonight, and I have the hockey rabbi working on our behalf too.

It cant hurt right?

I am covering all of the bases -- it worked for the last month. Gotta keep the momentum and good karma flowing.

From Ralph in New York:
Have you and Abe Pollin compared notes about the Wizards and Caps being in the post season at the same time?

Ted Leonsis:
Mr Pollin and his family will join us in the box tonight for the Caps game. We are very excited to have him come to a game and cheer on his baby -- he founded the team -- this is a great night for him!

Abe always gives me good advice but tonight I think we will just be two fans cheering our team on.

Here are two related questions:

From Stephen in Arlington:
Hi Mr. Leonsis. How many Philly fans do you expect to see in the Verizon Center tonight?

From David:

The atmosphere in our arena was great the last week and that was partially due to Carolina, Florida, and Tampa fans not traveling well. But Philly fans are always clogging up the joint. Any idea how many of the tickets for the first two playoff games sold prior to Philly being our opponent?

Ted Leonsis:

We did everything we could to sell only to Caps fans -- I am hopeful we will have a red out -- but if our fans re-sell their tix on Stubhub, etc. --what can we do? We did not sell any tickets in blocks to any Philly organizations.

I hope we see how loyal Caps fans are -- and that they believe in the team. You are our 7th man.

From Lola in DC:
The team was so active in the community this season, and it was great as a fan to have the opportunity to interact with the players. Now that the team's profile has risen so dramatically, is there a sense that such an active community presence isn't necessary? I hope not - the fans love it and we hope it continues!

Ted Leonsis:
We have great charecter players -- they love the fans and they are humble and good people. You can expect same level of support in out years. We are blessed to have such hard working folks going out into our community. Thanks for noticing.

From Allen in Falls Church:
Mr. Leonsis, I read in another publication today that the Capitals are expecting over 250 credentialed media. Does that mean the bloggers who have been there all year get pushed out by the "suddenly interested" main stream media?

Ted Leonsis:
Nope -- we wil find a spot for everyone -- you know me better than that. But I doubt we will allow in "new first time bloggers" to a playoff game; we are worldwide news right now. The strategy of working hard with MSM and with new media has paid off for us
we wouldn't be stupid and bite the hand that feeds us. :)

From Bobby in Ashburn:
Was the decision to sign Ovi to a long term deal more then about abilities and also about sending a message to the league and the fans that we are serious about being a winner going forward and do you think this will increase the desire of FA to want to come to Washington? Thanks & good luck

Ted Leonsis:
Yes and no.

He deserved the commitment; he is a historic player and a great kid and we talked about our strategy of a rebuild -- Alex gets it, he loves DC. And, we wanted to show commitment to him and thus to our fans.

As to free agents. ... I am not that interested in free agents. We have seen how the draft has helped us, and trades. We wont have room under the cap to bring in free agents in offseason. We have to build as we have from within, let the young kids play. The young players are our best players, and they have enormous upside. They are better players than any free agents we could bring in, thus, we will re-sign them and keep the team together, growing up together.

That's a much better formula I believe. But what do I know? :)

From Cathy in Columbia, MD:
There are rumors going around that Ollie will not be asked to come back next year! My question is this, instead of getting rid of Ollie, how about Brashier? Don't get me wrong, I love "The Donald" but do we really need a "goon" anymore. The Caps are playing a different level of hockey now and is beating people up that important anymore? Just a thought!

Ted Leonsis:

I don't really understand your question. You seem mad at Donald Brashear for us having an overload of great golatending?

The coach decides who to play -- Huet is hot --maybe hottest golaie in NHL, 12 and 2. He could be 14-0 if not for our "lost weekend. So right now -- shouldn't we ride the hot hand? Makes sense to me.

Olie is a Free Agent a in the offseason as is Huet. We must talk to both of them
Johnson is only goalie under contract for next season, but we will deal with those matters then. This is now: playoffs against the Flyers. Enjoy the ride.

From Orlando in Alexandria:
The city is jazzed that you have brought us a winning team! What do you think the turning point was to get us here?

Ted Leonsis:

The sell off. Without the trades, we don't get really bad. We end up 20th in NHL. We don't draft Ovechkin. That was turning point for franchise: A young super star to build team around. Keep Jagr -- No Ovechkin. Simple.

Everything grew from that big set of decisions. And, frankly -- I believed in what George was doing and supported him. Sometimes, patience is a virtue.

From JMW in Huntingtown, Md:
With the playoff experience that was gained by some of the Caps players at the AHL level, do you feel that this could equate to NHL playoff experience? You're a Great Owner and person. Thanks Mr. Leonsis.

Ted Leonsis:

Thanks for the nice words. Yes and no is the answer. Yes that they won the championship together and with the same coach -- but NHL is different. Players are bigger, faster; there is more pressure.

This is a growing experience for us. We will see what we are made of -- how we respond. I have good vibes.

We have been through an amazing pressure-packed month of games where essentially we couldn't lose a game. Every game is a game 7. We can lose 3 games to the Flyers and still win the series. So we have to get our heads wrapped around that nuance change.

To win a Stanley Cup, you have to qualify for the playoffs.

I have said:

"If not us, who?"

"If not now -- when?"

We will just go for it and play as hard as we can, let the chips fall where they may.

From Ellen:
Congratulations! The last few years seem to have payed off/ are paying off- do you ever have the urge to tell anyone "I told you so!" ? Also, are you considering rocking the hawk for tonight's game?

Ted Leonsis:
If and when we win a Stanley Cup -- I may allow myself a few moments of private gloating. But I believe we are all in this together. Fans are passionate.

I have opened myself up to fans via email, blogs and Facebook, and face to face. I heard and read alot of stuff over the years. But it was all out of love for the team, so I am cool with the criticism. I also have mellowed with age and experience.

All of us want to win a cup. And I am sure when we do, I will get emails about something not quite being right. As they said in the Godfather: "This is the business that we have chosen."

From Matt in Herndon:
What is your opinion of 3rd jerseys in the NHL? If the Caps were to add one, would you be inclined to see blue with the "Weagle"?

Ted Leonsis:
I want a third jersey but all in good time. We kust launched a new design system this season. We need to catch our breath. We haven't designed one yet. But when we do I am sure it will be cool.

I was actually thinking of using a "colostomy bag" design as our third jersey as one of our posters so elegantly called our new jerseys in a message board post. I love our new jerseys. I think most of our fans do as well.

From: Anthony in DC
Sorry this is not a specific hockey question but you have to be the best dressed owner in sports. Where do you get your clothes?

Ted Leonsis:
Thank you. Brioni for suits, and Austin Tailors in LA for shirts and pants.

I like wearing the red jersey. If I could wear that all of the time -- as a night shirt in bed, to hang around, to go to work. ... I would be a happy man.

From Jordana in Fairfax:
Ted, One of the things I love most about this team and you as an owner is the accessibility to and appreciation of fans. Will this continue, or will it change as the boys continue to make noise in the league and the Verizon Center continues to be packed?

Ted Leonsis:

I am what I am. I love interactivity. So email me -- comment on my blog --come say hello as I walk around the arena -- friend me on Facebook. Nothing will change. Thank you

From Greg in Oak Hill, Va.:
If I come wash your car tomorrow, will you please sell me 2 tickets to tonight's game?

Ted Leonsis:
Hi Greg -- buy season tickets, and I will wash your car! And, you will get in tonight to boot :_)

From Corey in Alexandria:
Thanks for spending $$$ to bring us a winner! What is the biggest challenge for you as a sports team owner?

Ted Leonsis:
How come you didnt thank me when I spent even more money for a loser? :)

Challenge is how to win a championship. If it was so easy -- then the big market clubs would have all of the Stanley Cups. It seems that alchemy is at play.

Team unity. Talent. Coachability. Health. Luck. Good calls from ref or non calls.

The line between success and failure is so tiny; we could be done for season right now. Instead we are all heading to Verizon for game one -- win and in last Saturday night. I now can't imagine how I would have felt had we lost that game.

From William in Fairfax:
Have you & your fellow owners/friends ever laced up the skates at your practice facility & taken shots on goal?

Ted Leonsis:

One of our owners plays in a league at Kettler, and most of our kids do too. I dont though. I was too poor growing up to play ice hockey. We played roller hockey on 6th avenue and 45th street. Or we ran around and played with a crushed beer can as our puck. I miss those days! I once hit a slap shot and the crushed can embedded itself into my friend's calf. He needed a tetnus shot, but he made the save!

From Peter in Athens, Greece:
I'm a student in Athens. How can I see the game? Good luck & Yassou!

Ted Leonsis:
NHL.com -- or Slingbox!

From: Lola in DC:
Hi, again. Do you believe other team owners are following or will follow your lead when it comes to making yourself accessible to the fans?

Ted Leonsis:

I dont know -- I am kind of a loner -- I do what feels right to me. I am an only child.

I think that for our market with our fans, they want and demand transparency and lots of communications. I laid out our plan. I pounded home the message day after day. I answered emails and went to fan forums with season ticket holders. I said: "Nothing up my sleeve," here is what I believe. I honestly try to run all of my businesses that way.

You may not like what you hear -- but you will know the plan, the expectations, the metrics, etc, etc.

Thomas Jefferson invented transparency of leadership. It is the right way to behave I believe. No ivory tower; listen to the wisdom of the crowds. ... sometimes :)

From Louis in Lowell, MA
You must have nerves of steel to be doing a chat on such an important game day. What has your day been like so far?

Ted Leonsis:
I got a haircut :) Worked out, did email, did media interviews. Stayed dout of Bruce and George's hair. lol. Haven't spoken to them and didn't go to Kettler today. Just burning off nervous energy.

"This is our time." I love that line. Embrace it, Enjoy it. Be loud and proud tonight.
You have blown away the NHL and the media wth your support of our team. We and I thank you from the bottom of our hearts.

We have been through a lot. We appreciate your support and business. Now lets go play some hockey. Go Caps!

Thanks for a fun hour, and thanks again to The Washington Times. And, let us all remember the great Dave Fay; tonight would have been his kind of night.

Good-bye everyone!

Moderator:

That wraps it up, folks; questions are still rolling in, but Ted has other things to attend to this evening.

Thanks to Ted for stopping by to take questions, and thanks to everyone who joined us to chat -- this was a lot fun.