Ted Leonsis, who is in the process of purchasing the Wizards, says that the NHL is in better financial standing than the NBA.

Leonsis is also the owner of the NHL's Washington Capitals.

He said Friday that a lot of NBA teams are losing "a lot of money."

Leonsis said the NHL is in a better position because it has a hard salary cap "that protects owners from taking stupid pills" -- the comment referred over-the-top free agent signings.