Alexandria’s Loss: The Washington Capitals and Wizards Will Not Join the City’s New Arena Project

Wizards and Capitals to Remain in D.C. as Teams Strike New Deal Following Virginia Relocation Hurdle, Report Says

Alexandria, Va. recently announced that negotiations to bring the NHL’s Washington Capitals and the NBA’s Washington Wizards to the city have ended. A proposed development district with a new arena for the teams will not move forward. The city expressed disappointment in the outcome of negotiations, which were hindered by the blocking of an incentive plan by Governor Glenn Youngkin in the state’s General Assembly.

Despite this setback, Alexandria will continue to pursue economic opportunities to enhance the quality of life and economic health of the community. Following Alexandria’s announcement, it was reported that the Wizards and D.C. Mayor Muriel E. Bowser were finalizing a deal to keep the teams in Washington at Capital One Arena through 2050. The city will provide $515 million to modernize the current arena. Ted Leonsis had previously announced plans to relocate the teams to Alexandria as part of a larger mixed-use development project.

The city of Alexandria stated that they believed

Leave a Reply