He is best known as the co-owner of the Washington Senators of the American League with James Johnston from 1963 through 1967, and the principal owner and chairman of the board in 1968.
[5] In 1963, Johnston and Lemon purchased the two-year-old Senators expansion franchise from their original principal owner, Elwood "Pete" Quesada.
One year after Johnston's death in December 1967, Lemon sold the franchise to Bob Short.
Lemon remained with the Senators as chairman of the board, retaining a minority interest in the team.
He was a frequent golf partner of Dwight Eisenhower, who appointed him as a special ambassador to Ghana.