The NBA Washington Wizards and the NHL Washington Capitals are relocating about 8 miles south, the teams' owners announced Wednesday.
Monumental Sports and Entertainment plans to move the teams across the Potomac River to Alexandria, Va., and build a new arena and entertainment district, USA Today reported.
Majority Wizards and Capitals owner Ted Leonsis and Virginia Gov. Glenn Youngkin announced on Wednesday the proposal for a new $2 billion arena in the Potomac Yard neighborhood of Alexandria. The development would include an arena for what would be the Virginia's first major pro sports teams, a Wizards practice facility, a separate performing arts center, media studio, new hotels, a convention center, housing and shopping.
The proposal would still need the state legislature’s approval to go through, the Associated Press reported Wednesday.
In a statement, Youngkin said the project would create more than 30,000 new jobs.
"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,” Leonsis said in a news release, as reported by USA Today. "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 relocation and arena development plan will require additional approval from local and state government.
The project is projected to be completed by the end of 2028.
The District of Columbia made a late pitch Tuesday to keep the Wizards and Capitals at Capital One Arena, located in downtown D.C’s Chinatown neighborhood. D.C.
Mayor Muriel Bowser and city council chairman Phil Mendelson pledged half a billion dollars to renovating Capital One Arena. Monumental Sports previously had asked for $600 million from the city for an $800 million renovation, according to a Washington Post report.
“The legislation that Mayor Bowser submitted to the Council outlines the parameters of the agreement, including receiving the authority to enter into a lease extension and provide financing of $500 million toward the $800 million renovation project over a period of three years beginning in 2024,” a statement from the mayor’s office said. “City leaders have also committed to a swift and expedited review and approval process to meet current construction plans for the arena.”
The Wizards and Capitals have played at the D.C. arena since 1997, and the move from suburban Maryland to D.C. helped revitalize the Chinatown neighborhood, USA Today reported.
Monumental also owns the WNBA’s Mystics, and Leonsis told the Associated Press that his expectation was that Capital One Arena could host women’s sports and other events like concerts.
Potomac Yard already includes several businesses and is near Ronald Reagan National Airport. The location is near public transportation, including a Metro bus route and rail line station.
“While some people want sports stadiums… I want tolls to disappear from Hampton Roads *and* I want recreational sale of marijuana,” State Sen. L. Louise Lucas posted Monday on X, formerly Twitter. “Guess we will have to find compromises this session.”
