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Friday, July 19, 2024

Wizards, Capitals to Remain Downtown

After months of uncertainty about a move to Virginia, the Washington Wizards and Capitals will remain in the District at Capital One Arena (601 F St. NW) through 2050.

DC Mayor Muriel Bowser (D), Chief Executive Officer of Monumental Sports & Entertainment Ted Leonsis and members of the DC Council announced their official agreement to “transform and expand” the downtown arena.

The District has committed to provide $515 million in funding for the project which is expected to cost $800 million to complete. Plans are to “modernize and improve the overall fan experience” through renovations and upgrades throughout the arena. 

“We made a great offer – and kept that offer on the table – because we have known all along that this is a win-win for our city and the teams,” Bowser said calling the project a “catalytic investment” in the downtown corridor.

Leonsis emphasized his love for DC and excitement about the opportunity to “expand” their operations downtown through this funding. “This is more than an investment from the city – it’s a true partnership demonstrated by all of these investments which the city has committed to for our fans to have an exceptional gameday experience,” Leonsis said of the deal.

In December, Monumental Sports and Entertainment, owner of two of the Capitals and Wizards, announced their plans to relocate the District’s beloved sports teams to Alexandria. The $2 billion public-private partnership, Virginia Gov. Glenn Youngkin (R) said, was set create entirely new entertainment district complete with practice facilities, retail and restaurants and community gathering spaces.

Sarah Payne is a reporter for Capital Community News. She can be reached at sarahp@hillrag.com.

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