Dec 13, 2023 - Business

Here are Virginia's plans for new Wizards and Capitals arena

A new arena next to Potomac River in Alexandria

Vision for new arena in Potomac Yard. Image: JBG SMITH

The new Wizards and Capitals arena would be set on the banks of the Potomac River within a new entertainment campus, according to plans unveiled by the teams.

The big picture: The plans envision the teams relocating from downtown D.C. to the Potomac Yard neighborhood in Alexandria.

  • The 70-acre land would include the arena, a performing arts center, an esports center.
  • It would be wrapped with restaurants, retail, conference space and more, according to Monumental Sports & Entertainment, the group that owns the teams.

Driving the news: Gov. Glenn Youngkin (R-Va.) is set to speak at the site Wednesday morning with team owner Ted Leonsis.

A pedestrian area
A promenade at the new arena district. Image: JBG SMITH
New arena district
A new performing arts area. Image: JBG SMITH
A map of the land
A map of the site at Potomac Yard. Image: JBG SMITH

Under Monumental's plans, Capital One Arena in Chinatown — which opened in 1997 but is one of the older facilities in the country — would remain as a live entertainment and sports venue for college and the city's WNBA Mystics team.

  • "Monumental envisions Capital One Arena as maintaining its position as a vital and vibrant point of connection in downtown D.C.," Monumental said in an announcement Wednesday.

Zoom out: D.C. is still battling to retain the team with a counter offer issued late Tuesday night.

  • D.C. Mayor Bowser and all 13 council members released a plan to finance $500 million of a $800 million renovation of Capital One, "our best and final offer," the mayor said in a statement.
  • Bowser and D.C. Council Chairman Phil Mendelson went to the arena on Tuesday to meet with Leonsis, according to two sources with knowledge who asked for anonymity because they weren't authorized to speak about the meeting.
  • Leonsis called the offer "generous," according to the sources, but said that he was weighing a plan from Virginia.
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