Abe Pollin, chairman of Washington Sports and Entertainment, announced Tuesday that he has sold the Washington Mystics to Lincoln Holdings LLC. The franchise will be led by BET co-founder Sheila Johnson, who will assume the titles of president, managing partner and governor for the Mystics. Johnson also becomes a partner in Lincoln Holdings LLC. "I am extremely proud to make this announcement," said Pollin. "I have known Sheila Johnson for 20 years and I have been absolutely impressed with her enthusiasm and business acumen. She will be a tremendous owner, and most importantly she is the ideal person to continue to guide this team that Irene and I founded." With her partnership in Lincoln Holdings LLC, Johnson will be part-owner of the Capitals, Mystics and Wizards. She is believed to be the first African- American woman to be an owner/partner of three professional sports franchises. "We are honored to welcome Sheila Johnson into Lincoln Holdings and to take over stewardship of the Washington Mystics," said Ted Leonsis, majority owner and chairman of Lincoln Holdings. "We are big believers and supporters of women's basketball and believe Sheila will help lead the team to success on and off the court." The Mystics joined the WNBA in December of 1997 as an expansion team thanks to the efforts of Abe and Irene Pollin. During its tenure in the league, Washington has made two appearances in the postseason, advancing to the Eastern Conference finals against the New York Liberty in 2002.