Wizards, Capitals reveal plans for new arena in Virginia suburbs
Sports in the DMV could look quite different in several years if a relocation plan comes to life.
Monumental Sports & Entertainment, the holding company for the NBA's Washington Wizards and NHL's Washington Capitals, announced that it has reached "a framework of agreement" to build a new arena and entertainment district in Alexandria, Virginia. This would mean that the two franchises would leave Capital One Arena in Downtown Washington D.C. for the Virginia suburbs before the 2028-29 seasons of their respective leagues.
In a press release, Ted Leonsis, the majority owner of the teams, said that the new project would further its relationship with the metropolitan area while also providing state-of-the-art technology to enhance the in-game experience:
“We are committed to providing world-class fan experiences while continuously evolving our teams, deepening community ties, and solidifying our role as leaders at the forefront of sports and technology,” said Leonsis. “The opportunity to expand to this 70-acre site in Virginia, neighboring industry-leading innovators, and a great academic partner, would enable us to further our creativity and achieve next-generation, leading work – all while keeping our fans and the community at the forefront of everything we do.”
Capital One Arena wouldn't go unused, however. The venue, which was opened in 1997 when the teams were owned by the late Abe Pollin, would be renovated to host the Washington Mystics, the sister WNBA franchise that was also owned by Pollin and now Leonsis. It would also host more college sports events and continue to act as a concert destination for the city.
It may seem perplexing that Leonsis is willing to move the Capitals and Wizards from an arena that's not even 30 years old, but as the adage always goes, you have to follow the money. As mentioned by The Athletic's David Aldridge, Leonsis had been angling for the city of Washington DC to provide the majority of funding for a complete revamp of the arena:
"Yet Leonsis has also reportedly previously said he’d stay in D.C. and at Capital One if the city provided him with $600 million toward a proposed $800 million renovation of the building. (Monumental would reportedly fund $200 million toward the project.) The city, through (DC mayor Muriel) Bowser, has indicated that negotiations with Leonsis on the proposed renovation deal are ongoing. Leonsis has also spent millions of dollars to construct brand new studio spaces with state-of-the-art cameras and production facilities in the building next door to Capital One for his Monumental Sports and Entertainment company."
Leonsis will have a press conference with Virginia governor Glenn Youngkin just days after several members of the state legislature approved a proposal for the development, which will include new studios for the regional sports channel that broadcasts games for the Monumental teams, a new Wizards practice facility and more. The full legislature needs to approve the project, and it's safe to assume that there will be significant taxpayer dollars used to fund it.
Capital One Arena, which was originally known as the MCI Center, then the Verizon Center in the 2000s, was considered the centerpiece for a revival of downtown Washington DC. It also appeared to be the long-term home both franchises had been seeking for years as neither is a stranger to relocation in the region.
Pollin bought the then-Baltimore Bullets in 1964 and moved them closer to Capital Centre in the DC suburb of Landover, Maryland nearly a decade later. Pollin also bought the rights to have the NHL expansion team that became the Capitals, who began play in 1974, a year after the Capital Centre opened. Both teams played there until the MCI Center opened in 1997.
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