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Monumental, Youngkin announce deal to move Caps, Wizards to Virginia
There was a big discussion of this Tuesday morning at ARLnow:
And the story is covered this morning at ALXnow:
NEWS
BREAKING: Washington Capitals and Wizards are officially moving to Potomac Yard
ALXnow.com Today at 8:30am
{snip}
BREAKING: Washington Capitals and Wizards are officially moving to Potomac Yard
ALXnow.com Today at 8:30am
{snip}
Monumental, Youngkin announce deal to move Caps, Wizards to Virginia
Renderings show a 20,000-seat arena, practice facilities for the Wizards and Capitals, expanded esports facilities, a performing arts venue, “fan plaza” and more
By Sam Fortier and Teo Armus
Updated December 13, 2023 at 11:26 a.m. EST | Published December 13, 2023 at 8:30 a.m. EST
The owner of the Wizards and Capitals has reached a nonbinding arrangement that would move the teams from downtown D.C. to a new arena in Northern Virginia as soon as 2028, potentially upending the regional sports landscape.
Ted Leonsis, owner of Monumental Sports & Entertainment, and Virginia Gov. Glenn Youngkin (R) appeared together Wednesday at an event in Alexandria’s Potomac Yard neighborhood where the terms of the framework were detailed.
{snip}
No official agreement has been signed, but Youngkin said he felt confident enough in the deal to join Leonsis and others in making the public announcement.
{snip}
Rendering of the performing arts venue and arena being proposed by Monumental Sports & Entertainment at Potomac Yard in Virginia. (Courtesy of JBG Smith)
As envisioned, Monumental’s facility would anchor a 12-acre mixed-use development in the heart of that area, part of a tentative agreement still subject to multiple state and local approvals. If Monumental ultimately moves to Virginia, it would mark a major economic development win for Youngkin and deal a blow to D.C.’s struggling downtown. The transition could also ease the path for Leonsis to take the company public, a possibility he has openly discussed.
Preliminary development plans for Potomac Yard
Sources: Monumental Sports & Entertainment and Alexandria Economic Development Partnership,
GoogleEarthPro and Alexandria GIS open data hub
LARIS KARKLIS/THE WASHINGTON POST
{snip}
Laura Vozzella, Meagan Flynn, Michael Brice-Saddler, Jonathan O’Connell and Laris Karklis contributed to this report.
This is a developing story and will be updated.
By Sam Fortier
Sam Fortier is a beat writer for The Post covering Washington's NFL team. Twitter https://twitter.com/Sam4TR
By Teo Armus
Teo Armus covers people, issues and local government in Northern Virginia for The Washington Post. He joined The Post as a staff writer in 2019. Twitter https://twitter.com/teoarmus
Renderings show a 20,000-seat arena, practice facilities for the Wizards and Capitals, expanded esports facilities, a performing arts venue, “fan plaza” and more
By Sam Fortier and Teo Armus
Updated December 13, 2023 at 11:26 a.m. EST | Published December 13, 2023 at 8:30 a.m. EST
The owner of the Wizards and Capitals has reached a nonbinding arrangement that would move the teams from downtown D.C. to a new arena in Northern Virginia as soon as 2028, potentially upending the regional sports landscape.
Ted Leonsis, owner of Monumental Sports & Entertainment, and Virginia Gov. Glenn Youngkin (R) appeared together Wednesday at an event in Alexandria’s Potomac Yard neighborhood where the terms of the framework were detailed.
{snip}
No official agreement has been signed, but Youngkin said he felt confident enough in the deal to join Leonsis and others in making the public announcement.
{snip}
Rendering of the performing arts venue and arena being proposed by Monumental Sports & Entertainment at Potomac Yard in Virginia. (Courtesy of JBG Smith)
As envisioned, Monumental’s facility would anchor a 12-acre mixed-use development in the heart of that area, part of a tentative agreement still subject to multiple state and local approvals. If Monumental ultimately moves to Virginia, it would mark a major economic development win for Youngkin and deal a blow to D.C.’s struggling downtown. The transition could also ease the path for Leonsis to take the company public, a possibility he has openly discussed.
Preliminary development plans for Potomac Yard
Sources: Monumental Sports & Entertainment and Alexandria Economic Development Partnership,
GoogleEarthPro and Alexandria GIS open data hub
LARIS KARKLIS/THE WASHINGTON POST
{snip}
Laura Vozzella, Meagan Flynn, Michael Brice-Saddler, Jonathan O’Connell and Laris Karklis contributed to this report.
This is a developing story and will be updated.
By Sam Fortier
Sam Fortier is a beat writer for The Post covering Washington's NFL team. Twitter https://twitter.com/Sam4TR
By Teo Armus
Teo Armus covers people, issues and local government in Northern Virginia for The Washington Post. He joined The Post as a staff writer in 2019. Twitter https://twitter.com/teoarmus
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