Washington Wizards owner Ted Leonsis admitted that the team has not lived up to fan expectations on Monday, and accepted that it was the owner's fault:

The Wizards have been one of the most disappointing teams in the league these past few years. In the last decade, the team has made the playoffs four times. They have never gotten past the Conference Semi-Finals, where they lost three out of four times. Last year, Washington posted a record of 32-50 and failed to make the postseason.

It's not like the Wizards have failed because they lack stars. John Wall, the number one pick in 2010, was supposed to turn the franchise around. While he has shown bursts of superstar potential, the Kentucky product has never managed to have sustained success over a season, and certainly not enough to lead Washington to a deep playoff run. Lately, injuries have marred his career, and Leonsis admitted the point guard might not even play next season.

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Wall's backcourt mate Bradley Beal, the third pick in the 2012 draft, is a two-time All-Star who is one of the premier shooting guards in the league. Unfortunately, his talent has been wasted playing with weak rosters around him. Per reports, the Wizards are looking to offer him an extension and try once again to build a competitive roster with Beal at the core.

Props to Leonsis for owning up to his mistakes. Now he has a lot of work to do to shape the Wizards back into contenders.