The Washington Wizards and the Washington Capitals have called Capital One Arena home but it appears that a change of location is on the horizon. The owner of the team and Virginia’s governor announced a plan that would bring the teams eight miles south of the city to Alexandria, Va. in 2028.
CNBC reports that Monumental Sports & Entertainment, which owns the Wizards and Capitals, CEO Ted Leonis and Gov. Glenn Youngkin announced a plan that will bring a new 20,000-seat area, and practice facilities along with a mixed-used development to the Northern Virginia city, which rests in the shadow of the Nation’s Capitol.
Below is a statement from Governor Youngkin:
“This is the most visionary sports and entertainment development in the world, bringing together entertainment, sports, and technology in the most advanced innovation corridor in the United States: a once-in-a-generation and historic development for the Commonwealth, sports fans, and all Virginians. The Commonwealth will now be home to two professional sports teams, a new corporate headquarters, and over 30,000 new jobs – this is monumental. This was only made possible through consistent collaboration between Virginia’s economic development team, the Monumental Sports & Entertainment team, the City of Alexandria, our administration and the Virginia General Assembly’s Major Employment and Investment Project Approval Commission, and JGB SMITH. Virginia is undoubtedly the best place to live, work, raise a family, and now watch basketball or hockey.”
Leonis added a statement as well:
“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. 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.”
The move faces legislative approval from lawmakers during the next Virginia General Assembly, where Democrats control the upper chamber while Republicans, which is Youngkin’s party, control the lower chamber.
If Monumental does indeed move its business holdings and operations to Alexandria, it would leave downtown Washington, D.C., which some experts say is in decline, without the economic boosts of games and other events.
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