Monumental Move: Washington Wizards and Capitals to Relocate to Virginia by 2028

By Maya Rodriguez December 14, 2023320 views

In a surprising move, Ted Leonsis, majority owner of the NBA’s Washington Wizards and NHL’s Washington Capitals, announced plans to relocate both franchises from Washington, D.C. to Virginia by 2028. The CEO of Monumental Sports & Entertainment revealed a “framework of an agreement for a public-private partnership” to construct an expansive entertainment district in Alexandria, Va., at Potomac Yard.

Vision for a $2 Billion Campus

The proposed $2 billion, 9 million-square-foot campus aims to redefine the sports and entertainment landscape. It includes Monumental Sports & Entertainment’s headquarters, a shared arena for the Wizards and Capitals, a media studio, a Wizards practice facility, a performing arts venue, an Esports facility, retail spaces, restaurants, and more. Leonsis envisions this development as a hub for creativity and innovation, adjacent to industry leaders and an academic partner.

Potential Transformation of Capital One Arena

While Capital One Arena in Washington currently hosts both the Wizards and Capitals, Monumental Sports & Entertainment contemplates updating the facility to become the future home of the WNBA’s Washington Mystics, another team owned by Leonsis. The Mystics currently play at the Entertainment and Sports Arena in southeast Washington.

Response from Washington D.C. and Virginia

The announcement follows Washington Mayor Muriel Bowser’s proposal for an $800 million renovation of Capital One Arena, including $500 million in financing. This effort aims to retain the teams in their current home, with Bowser stating that the proposal is their “best and final offer.” However, Leonsis and Monumental Sports & Entertainment seem set on their vision for a new home in Virginia.

Virginia Gov. Glenn Youngkin and other officials joined Leonsis in a news conference, expressing support for the planned move. Nevertheless, the relocation is contingent on approvals from the state’s General Assembly and Alexandria City Council. Virginia officials are actively working on transportation-related plans for the project.

This bold relocation plan marks a significant chapter in the history of these two prominent sports franchises, promising a state-of-the-art facility and a new era for the Washington Wizards and Capitals in Alexandria, Virginia.