Monumental Sports & Entertainment — the company that owns the Washington Wizards, Capitals, and Mystics — has had discussions with Virginia governmental officials about possibly moving the Wizards and Capitals’ home arena from Washington, D.C. to nearby Arlington, Virginia.
Currently, both teams play at Capital One Arena in the Chinatown district of downtown D.C. It’s been the two teams’ home since 1997. However, Monumental officials are seeking an investment from the city officials for upgrades and maintenance of the aging arena.
According to The Washington Post, Monumental officials had “preliminary and exploratory” talks with Virginia officials about moving to the Crystal City area of Arlington near Amazon’s new HQ2, just 15 minutes or so away from downtown D.C.
The Capitals practice in Arlington.
Also, The Post notes that Monumental founder Ted Leonsis and another company official had a “productive” conversation with DC Council chairman Phil Mendelson on June 15 about staying in Washington. Monumental wants the city to invest in needed improvements to Capital One Arena.
Mendelson stressed the city is interested in working with Leonsis, including Mayor Muriel Bowser. D.C. provided $50 million in 2007 for improvements to the arena. As part of that agreement for public funding, the teams’ former late owner Abe Pollin agreed to extend the arena’s lease from 2027 to 2047.
However, Monumental is exploring if there is an option that would allow the company to pay a lump sum of $35 million in principal that would revert the end of the arena’s lease to 2027.
If getting funding from the city remains a challenge, Monumental could move to a new arena in Northern Virginia in the near future.
While DC is willing to work with the Wizards and Capitals, the city officials also are facing a similar demand from the Washington Nationals of MLB for its home stadium, Nationals Park. Plus, the city has a newfound interest in bringing the NFL’s Washington Commanders back into city limits.
The Commanders franchise has played in nearby Landover, Maryland, since 1997. With Dan Snyder on his way out as owner, Washington officials are willing to work with the team’s incoming ownership for a new stadium.
