Virginia is engaged on a plan to lure the Washington Wizards and Washington Capitals sports activities franchises to a brand new improvement at Potomac Yard in Alexandria, in accordance with a lawmaker with data of the discussions.
The groups are owned by Ted Leonsis’ Monumental Sports & Entertainment and might finish their present lease at D.C.’s Capital One Arena in 2027.
Any area proposals would probably should be voted on by Virginia’s full General Assembly, which subsequent convenes in January.
The discussions mirror a actuality about to be dealing with the District — a number of sports activities groups in search of main investments at a time when the town is struggling financially and dealing to revitalize a downtown that has but to completely bounce again post-pandemic.
D.C. Mayor Muriel Bowser’s workplace despatched The Times the next assertion, alluding to her work with City Council Chairman Phil Mendelson.
“Mayor Bowser and Chairman Mendelson have worked together closely, and in lockstep, to put forward a strong proposal to Monumental Sports, and after several months of negotiations, we are committed to seeing this through as a vital component of DC’s Comeback,” her workplace wrote.
The Washington Commanders’ lease at FedEx Field in suburban Maryland additionally ends in 2027, and Bowser has mentioned that the town will aggressively pursue the crew. The Washington Nationals are additionally in search of upgrades to their stadium, which opened 15 years in the past.
The Commanders, then the Redskins, agreed to a deal to construct a stadium at Potomac Yard within the ‘90s, before the agreement ultimately fell through, leading them to the Landover site where their current stadium was built.
During those negotiations, team officials touted that it was quicker to get to Potomac Yard from the White House than it was to reach RFK Stadium. (On Monday afternoon, Google Maps confirmed this is still the case.)
Lawmakers representing Alexandria either declined comment or did not respond to requests for comment on Monday afternoon.
A small group of Virginia senators met in Richmond on Monday to discuss a potential deal with Monumental. A spokesperson for Gov. Glenn Youngkin declined to comment on the stadium issue, as did the Alexandria Economic Development Partnership.
One Virginia legislator wrote by text message: “Can’t focus on.”
If the Capitals and Wizards relocated to Virginia, they’d be the primary professional sports activities groups to play regular-season video games within the state for the reason that American Basketball Association’s Virginia Squires folded. The Potomac Yard neighborhood just lately added Metro service on the Yellow and Blue Lines.
In an announcement, Monumental didn’t straight handle the Virginia proposal.
An organization spokesperson wrote: “Monumental Sports & Entertainment is committed to delivering the best fan experience, winning championships, giving back to our communities, and becoming the most valuable regional sports and entertainment enterprise in the world so that we can continue to reinvest in our fans and community. Our commitment to the DMV is unwavering and we look forward to sharing plans for future investments.”
Any specifics would probably be launched as a part of laws that will be submitted in January.
Monumental has requested for $600 million from the District to renovate Capital One Arena, in accordance with an individual with data of the state of affairs. Virginia hasn’t tipped its palms on funds, however at one level earlier this yr was discussing providing a $1 billion subsidy to relocate the Commanders to Woodbridge.
Virginia additionally nonetheless has a profitable incentive to supply within the type of a on line casino in Northern Virginia. When the state licensed playing, it designated 5 localities throughout the state, however none have been within the population- and cash-rich D.C. suburbs. Since then, momentum has grown in direction of authorizing on line casino gaming within the area, significantly given the success of MGM’s National Harbor on line casino throughout the Potomac River in Maryland.
Last yr’s state funds licensed, on the request of Youngkin, $250,000 to review bringing sports activities groups to the state. D.C. has signed off by itself sports activities research at an estimated value of $394,000, as it really works via which groups and venues to prioritize within the upcoming spherical of negotiations.
One liberal-leaning web site, Blue Virginia, got here out in opposition to the Virginia proposal, writing on social media: “Virginia tax dollars shouldn’t be subsidizing wealthy sports owners/franchises.”
Leonsis has hinted prior to now about turning Monumental right into a publicly traded firm, which might increase a few of the cash wanted for a giant funding. He additionally grew to become the primary NBA proprietor to just accept funding from a international fund, promoting a share of the corporate to a Qatari funding car earlier this yr.
