Wizards, Capitals to relocate to Virginia?

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Virginia state lawmakers are assembly Monday afternoon to contemplate a deal to relocate the NBA’s Washington Wizards and NHL’s Capitals to a brand new area in Northern Virginia, in keeping with The Washington Submit.

Their new area can be in Alexandria’s Potomac Yard neighborhood. A Virginia stadium authority would personal the bigger complicated and lease it to Monumental Sports activities & Leisure, which owns the Capitals and the Wizards.

Nonetheless, Monumental has no official set date to maneuver the groups out of D.C. That might change sooner or later. District officers have additionally been in touch with the community over renovating Capital One Enviornment.

Breaking information: A gaggle of Virginia state lawmakers plan to satisfy behind closed doorways Monday to contemplate a possible deal to convey the Capitals and Wizards to a brand new area in Northern Virginia, in keeping with 4 folks with information of the scenario.https://t.co/YMQjhcvOVG

— Submit Native (@postlocal) December 11, 2023

Capital One Enviornment will nonetheless proceed to host concert events and school basketball video games if Monumental’s take care of Virginia is authorised. The sector was inbuilt 1997 for $260 million.

The Georgetown Hoyas males’s basketball workforce has performed within the area because it first opened. Although, the ladies’s workforce performs its residence video games inside McDonough Gymnasium.

NBA’s Washington Wizards, NHL’s Capitals might relocate to Northern Virginia as early as 2027

“Monumental Sports activities & Leisure is dedicated to delivering the most effective fan expertise, successful championships, giving again to our communities, and changing into probably the most precious regional sports activities and leisure enterprise on this planet in order that we will proceed to reinvest in our followers and neighborhood,” a Monumental spokesperson instructed The Submit.

“Our dedication to the DMV is unwavering and we sit up for sharing plans for future investments.”

D.C. Mayor Muriel Bowser’s spokeswoman despatched a press release from her workplace: “Mayor Bowser and Chairman Mendelson have labored collectively carefully, and in lockstep, to place ahead a powerful proposal to Monumental Sports activities, and after a number of months of negotiations, we’re dedicated to seeing this by way of as a significant element of DC’s Comeback.”

Below the plan, each groups would transfer to a brand new facility anchoring a large mixed-use growth in Alexandria’s Potomac Yard neighborhood, per sources.

Cap One might nonetheless host concert events and school bball video games. Earliest Caps/Wiz might go away is 2027. https://t.co/Hhw6NHgwHQ

— Sam Fortier (@Sam4TR) December 11, 2023

Ted Leonsis is the founder, majority proprietor, chairman, and CEO of Monumental. Leonsis, 66, owns the Wizards, Capitals, NBA G League’s Capital Metropolis Go-Go, and WNBA’s Mystics.

Monumental would have a greater than 30-year lease on the Alexandria area, in keeping with sources. Leonsis’s groups can go away the D.C. space as early as 2027. For the reason that area has a floor lease, Monumental owns the sector itself and the town owns the land beneath it.

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