Ted Leonsis, majority owner of the Washington Wizards and Washington Capitals, announced plans Wednesday to move the NBA and NHL franchises from downtown D.C. to Northern Virginia, with the goal of moving them into a new arena by 2028. did.
Leonsis, founder, chairman and CEO of Monumental Sports and Entertainment, said in a news release that the company will build a new entertainment district in the Potomac Yards area of Alexandria, Virginia. He said a “framework for agreement” had been reached. Agree on a “public-private partnership.”
Leonsis appeared at an event Wednesday with Virginia Governor Glenn Youngkin.
A committee of Virginia lawmakers approved a proposal Monday to build a new sports and mixed-use campus, but it must be approved by the full state Legislature by early 2024. The campus will include a new headquarters for Monumental, the Wizards’ practice facility. In addition to the new arena, a performing arts venue and expanded esports facilities will also be added, according to a news release.
“We are committed to continuing to evolve our team, deepen our community ties, and strengthen our role as a leader at the forefront of sports and technology while delivering a world-class fan experience,” Leonsis said in a statement. I’m working hard,” he said.
The Wizards and Capitals have lived at Capital One in D.C.’s Chinatown since 1997, when former owner Abe Pollin moved the franchises from the Capital Center in Landover, Maryland, where the Washington Commanders currently play. They play at the Arena (originally called MCI Center).
Monumental said it plans to update Capital One Arena as the future home of the Washington Mystics, a WNBA team owned by the group, in addition to hosting live entertainment and college sporting events. The Mystics currently play and practice along with the G League’s Capital City Go-Go at the Entertainment and Sports Arena in Southeast Washington. The G League team will remain at the Entertainment and Sports Arena, Monumental said.
“I believe Capital One Arena can host women’s sports,” Leonsis said. “We have invested $200 million over the past 10 years to keep Capital One world-class as an arena. Our intention is to expand (into Virginia) and expand Capital One in Washington, D.C. It’s about keeping One Arena a great place.”
late tuesday, D.C. Mayor Muriel Bowser and D.C. Council President Phil Mendelson will renovate Capital One Arena “to create a state-of-the-art urban arena and enhance Monumental Sports and Monumental Sports.” He announced a bill outlining a plan to provide $500 million in funding for an $800 million project. Gallery Place – Entertainment as the economic center of the Chinatown Entertainment District and a destination for district residents and visitors. ”
“Downtown D.C. is an economic engine for the District, providing a source of revenue to support important programs in the city,” Bowser said in a statement. “Mr. Leonsis and Monumental Sports are important partners in keeping our downtown thriving, especially after the pandemic. Modernizing Capital One Arena will be a valuable investment for our continued success and future prosperity. This proposal represents our best and final proposal and is a monumental project that will breathe new life and vitality into the neighborhood and keep the Washington Wizards and Capitals where they belong in Washington, D.C. -This is the next step in our partnership with sports.”
Contextualizing potential movements
We’re at the hard-line stage of hoping to improve what Leonsis described to the Washington Post as “the worst construction contract in professional sports.”
Since opening in 1997, Capital One Arena has been a keystone in the revitalization of Downtown Washington, DC’s economic corridor. If Leonsis were to take his team to Virginia, it would be a devastating economic blow to D.C. and the Penn Quarter area, where Washington, D.C., is based. The building is occupied. The tentacles that extend from the arena to nearby restaurants, bars and hotels are critical during the fall and winter months, as they rely on game night traffic for much of their business.
However, Leonsis has also reportedly previously said he would remain in D.C. and Capital One if the city provided $600 million toward a proposed $800 million renovation of the building. . (Monumental is reportedly funding the project with $200 million.) The city, through Bowser, indicated that negotiations are underway with Leonsis over the proposed renovation contract. Leonsis also built several new studio spaces in the building next door to Capital One for his Monumental Sports and Entertainment company, equipped with state-of-the-art cameras and production equipment. Spent a million dollars.
It’s clear that Virginia is serious about attracting professional sports teams to the state. Youngkin also spent time this summer trying to convince NFL managers to come to Virginia. The coaches have made no secret of their desire for a new stadium to replace Landover’s rapidly aging FedEx Field. And Leonsis is seriously considering using his considerable influence as owner of most of D.C.’s professional sports teams to secure lucrative contracts. If the Virginia General Assembly ultimately approves public funding for the proposed arena, the school district will need to act quickly to stop the project’s momentum. — David Aldridge, Senior Columnist
What this means for fans
How would moving the Capitals and Wizards to Alexandria affect fans based in the northern area of Washington, D.C., and the Maryland suburbs northeast and northwest of the city? Those fans regularly How often do you want to travel to Alexandria?
These are obvious questions.
The coaches have played in Landover since 1997, but that situation only requires fans from Northern Virginia to travel for eight regular-season games a year, most of which are in poor local security. The expedition will take place on the famous Sunday. Traffic is relatively minimal.
Of course, the Caps and Wizards play 41 regular-season home games, and many of those home games are held on weeknights. Even with public transportation options, how much will a move to Northern Virginia alienate a fan base for whom traveling to Alexandria is a hassle?
Capital One Arena’s central location is perhaps the venue’s greatest strength and a boon for the Caps and Wizards fan bases. — Josh Robbins, Wizards Senior Writer
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