The Washington Wizards and Washington Capitals are staying in the nation’s capital. Monumental Sports, the parent owner of the Capitals, Wizards, WNBA’s Washington Mystics, and the G-League’s Capital City Go, announced an agreement with Washington, DC officials to keep the teams in the District through 2050.
Managing owner Ted Leonsis shopped the Capitals and Wizards around the DMV region. A search for a new stadium landed in nearby Alexandria, Virginia, at the Potomac Yard Metro Station. However, the deal met heavy opposition from fans and local officials.
Last week, DC Attorney General Brian Schwalb told Monumental that the Wizards and Capitals were obligated to remain at Capital One Arena through the end of their lease in 2047.
While Monumental lawyers dispute Schwalb’s position, the City of Alexandria announced Wednesday that negotiations ended for the arena at the Potomac Yard site. Shortly, Monumental and DC announced their new pact.
“District residents could not have been louder or clearer in expressing their desire for the teams to stay in DC, and as the District’s chief legal officer, I will always have the Washingtonians’ backs and use every legal tool available to defend District residents’ interests,” Schwalb said in a statement, per Ben Standig of The Athletic.
“As I made clear in my letter to Monumental, it was in the best interests of the District and Monumental to resolve differences through negotiation and not litigation. I’m delighted for the District both as a lifelong DC sports fan and as the Attorney General. This outcome will have significant positive impacts on the economic development, public safety, and overall District energy and spirit generated by the millions of people who attend games, shows, and concerts at Capital One Arena.”
Capital One Arena will receive over $500 million for upgrades
Under the agreement, DC will commit $515 million over three years to improve Capital One Arena. The money will help modernize Capital One Arena against other NBA and NHL arenas.
Monumental will take control of the Entertainment & Sports Arena in Southeast Washington. The arena is home to the Mystics and Capital City Go-Go. The Wizards will receive a new practice facility in downtown DC.
The city also will take measures to ease the safety concerns of fans and Monumental employees. DC will provide 17 police officers at Capital One Arena from two hours before game time to two hours after games.
Arena staff will get consideration of 200 parking spaces. The Mystics and Go-Go will be allowed to designate four games per season and all playoff games at Capital One Arena.
Local businesses surrounding the Gallery Place area will receive the most significant benefits. Losing the traffic flow of fans would have been a gigantic loss for the city’s economy. A commitment to safety is a huge plus for fans.
The NBA and NHL are locked in DC for at least 25 more years.
