The owner of the Washington Wizards and Capitals is moving forward with plans to transition the teams out of D.C. and into the Northern Virginia neighborhood of Alexandria.
The Washington Wizards and Capitals could potentially no longer play in the nation’s capital. The owner of the D.C.-based teams has made a formal agreement to begin planning the sports franchise’s move to Alexandria, Virginia.
The news was reported by NBC Washington on Dec. 13, with a $2 billion deal at stake to make the teams officially play in the northern Virginia neighborhood, part of the “DMV’ area. The choice to transition the basketball and ice hockey teams across the Potomac River was made despite D.C. lawmakers’ proposition to renovate the current arenas.
Ted Leonsis, the owner of Monumental Sports and Entertainment company, released a statement on the new futures of the teams.
With the inclusion of the new home, Leonsis is teaming up with Virginia’s Gov. Glenn Youngkin to develop an entertainment district in the area that would create a “world-class” experience for attendees. Not only is the development boasting nine million square feet, but it also boasts a new arena and headquarters for Monumental sports, in addition to a performance venue and esports facility.
“We have been responsive to Monumental throughout our process and we have negotiated with, in good faith, with them over the last several months,” said Bowser to reporters. “We know it’s the best for the city, and, quite frankly, we think it’s the best for the entire DMV.”
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Source: Black Enterprise
