Caps, Wizards could move to Alexandria under new proposal
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Virginia is drawing up plans to relocate the Capitals and Wizards to a new arena in the Potomac Yard neighborhood of Alexandria, the Washington Post reported Monday, rumors of which D.C. has feared over the past year.
Why it matters: The teams' move would be a coup for NoVa and Governor Glenn Youngkin but their departure from Capital One Arena would crush the District's crippled downtown economy, eliminating a magnet that brings tens of thousands of people to Chinatown.
What they're saying: "Everybody's worried today," one official close to city hall, who asked for anonymity to speak candidly, tells Axios. "For the first time, it's become real, that these teams could leave for Virginia."
Driving the news: A group of Virginia lawmakers voted Monday to greenlight a proposal for the Monumental Sports & Entertainment group, the Post reported, citing anonymous sources.
- The mixed-use development would be like a "little mini-city," one source told the Post.
- A basketball and hockey arena would be part of a complex that includes a separate concert venue, they added.
Catch up fast: Monumental owner Ted Leonsis has been unhappy with the state of Capital One Arena, built in 1997 and now out-of-date with many venues.
- Leonsis has expressed displeasure with the safety and quality of life surrounding the arena in Chinatown, Axios reported early this year. Monumental has paid for off-duty officers and pushed for improvements.
- It currently wants $600 million from the District government to fund an overhaul of the arena that would begin in 2024 and incrementally advance over four summers, the Post previously reported.
This all comes as the Nationals want improvements to its ballpark in Navy Yard, and D.C. is in a sweepstakes to attract the Commanders back to RFK.
- Mayor Muriel Bowser is working with Republican Rep. James Comer to gain more control over the future of the federal RFK land.
What we're watching: The proposal needs sign-off from the full Virginia legislature and Alexandria City Council.