Washington, D.C. might be losing two of its major sports teams, but not in the way you may think.
Owner of the Washington Wizards and Washington Capitals, Ted Leonsis, has announced a new plan in accordance with Virginia state officials. The plan is to relocate both teams to a new arena and entertainment complex located in the Potomac Yards area of Alexandria. The two teams will not rebrand, as they will remain in the D.C. area and still represent the area.
Brand New District
The new entertainment district would include a plethora of features, including the arena itself, a separate 3,000-seat music venue, hotels, and commercial retail properties. The new headquarters for Monumental Sports and Entertainment, Leonsis’s company which owns both teams, would also be built on the site.
“When we first came out here and I saw 70 acres and the ability to start with a clean slate,” Leonsis said, “and imagine what would an arena 30 years from now need to be built and be served, and to build a digital-first experience. It really is a very, very romantic but also pragmatic vision that we have, that we can’t do anywhere else. This place for people is one-of-a-kind.”
Not Official Yet
Virginia state lawmakers voted on Monday to approve the project. However, the Alexandria City Council still needs to approve, and a few other hurdles must be cleared before it is official. Plus, D.C. Mayor Muriel Bowser is attempting to offer $500 million to keep the teams in the District.
“Downtown D.C. is the District’s economic engine that provides revenue resources to support important programs in the city,” the Mayor said in a statement. “Mr. Leonsis and Monumental Sports have been critical partners in keeping our downtown thriving, especially after the pandemic. The modernization of the Capital One Arena will be an invaluable investment for continued success and our future prosperity.”
Current Situation
The Capitals and Wizards currently play in Capital One Arena, located in the Chinatown neighborhood of Downtown D.C. However, the arena, despite only being 26 years old, is already facing issues and crime has risen in the area. If this plan goes through, D.C. itself would only be left with two teams: the Nationals and WNBA’s Mystics.
“This is the most visionary sports and entertainment development in the world,” Virginia Governor Glenn Youngkin said in a release. “The Commonwealth will now be home to two professional sports teams, a new corporate headquarters, and over 30,000 new jobs. This is monumental.”
Virginia is currently not home to any professional sports teams, but if this move occurs, it will gain two. If approved, ground on the 9-million-square-foot complex will break in 2025, and the arena could be open by 2028. Nothing is set in stone, but this plan is gaining traction quickly.
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