Wizards, Capitals owner Ted Leonsis unveils plan to move teams from D.C. to Virginia
Both franchises have played at Capital One Arena since 1997
Ted Leonsis, owner of the NBA's Washington Wizards and NHL's Washington Capitals, has a proposed a plan to move the teams to Virginia by 2028.
The 66-year-old is also the founder and CEO of Monumental Sports & Entertainment, which released a statement detailing the proposed project Wednesday morning. Hours later, Leonsis joined Virginia Gov. Glenn Youngkin at an event in Alexandria’s Potomac Yard neighborhood where the proposal was discussed.
Monumental has only laid the groundwork for an agreement to proceed with the proposed public-private partnership to build an arena in Potomac Yard. The relocation aims to create a "world class entertainment district" in Alexandria through funding from Monumental, the state, city and publicly traded real estate investment trust JBG Smith.
Leonsis reportedly declined to answer questions about the relocation Wednesday, describing the 70-acre location as an opportunity for a "clean slate."
Ted Leonsis would not take questions from reporters about the new Caps/Wizards arena in Alexandria.
He did say this though, “when we first came out here and I saw 70 acres and the ability to start with a clean slate…it’s a very romantic vision that we can’t do anywhere else.” pic.twitter.com/3i0n3LR5VR— Scott Abraham (@Scott7news) December 13, 2023
Leonsis and Monumental own Capital One Arena, leasing the land on which it was built from the District. Originally called the MCI Center, the Wizards and Capitals have played at the arena since 1997. The teams arrived there as former owner Abe Pollin moved them from Capital Centre in Landover, Maryland, the city that currently hosts the Washington Commanders.
The move is pending legislative approval and finalized documents. It comes after reports of Leonsis' displeasure with crime in downtown D.C. With the area already struggling, the loss of two professional franchises could present more difficulties.
Aware of that concern, Leonsis emphasized his intentions to "keep Capital One Arena in D.C. a great place" while speaking Wednesday.
Monumental hopes to update Capital One Arena to host up to 20,000 people. Once refurbished, the arena would serve as its own entertainment and sports hub that could host concerts, comedy shows and collegiate competitions, the release said.
In the potential absence of the Wizards and Capitals, Monumental also plans to make Capital One Arena a permanent home for the Washington Mystics of the WNBA. The release detailed a tailored game-day experience for the team and increased investment into the franchise.
The Wizards' NBA G League affiliate, the Capital City Go-Go, would remain at the Entertainment & Sports Arena in the Ward 8 section of D.C, where it currently practices and plays.
