The City of Alexandria says negotiations to bring the Washington Capitals and Wizards to Northern Virginia have ended and the arena proposal will not move forward.
The City of Alexandria says negotiations to bring the Washington Capitals and Wizards to Northern Virginia have ended and the arena proposal will not move forward.
The $2 billion plan for a sports and entertainment complex in Potomac Yard, championed by Gov. Glenn Youngkin ran into trouble in the Virginia General Assembly after Democratic opposition to the deal.
“As stewards of the City’s economic health and development, City leaders believed the Potomac Yard Entertainment District opportunity was worthy of community discussion and Council consideration. We negotiated a framework for this opportunity in good faith and participated in the process in Richmond in a way that preserved our integrity,” the statement form the city said. “We trusted this process and are disappointed in what occurred between the Governor and General Assembly.”
Youngkin expressed his disappointment with the General Assembly for not agreeing to the deal to bring the Capitals and Wizards to Potomac Yard in a statement sent to WTOP.
“Virginians deserve better. A one-of-a-kind project bringing world-class athletes and entertainment, creating 30,000 jobs and $12 billion in economic activity just went up in smoke. This transformational project would have driven investment to every corner of the Commonwealth.” Youngkin said. “I’d like to thank Ted Leonsis and the Monumental team, the City of Alexandria, JBG Smith and countless other partners for their professionalism, belief in Virginia and fortitude.”
In December 2023, Monumental Sports & Entertainment managing partner Ted Leonsis along with Youngkin and Alexandria City Mayor Justin Wilson announced their plans to bring the Capitals and Wizards to Potomac Yard with a new arena and entertainment district.
However, it had immediate opposition from residents and local officials. Earlier this month, Virginia lawmakers recently approved a two-year budget, which didn’t include Youngkin’s proposed arena deal. State Sen. L. Louise Lucas strongly opposed the deal because it would rely on bonds from the state and city governments.
“As Monumental announces today they are staying in Washington DC we are celebrating in Virginia that we avoided the Monumental Disaster,” Lucas said on X. “Thank you to everyone who stood with us in this fight!
State Sen. Scott Surovell told WTOP that the governor’s unwillingness to compromise was an issue.
“If Monumental and the governor had been willing to have a real conversation about a way to get this done, we might have been able to find a path to get this done,” Surovell said. “I’m hopeful the governor will chalk this up and pay attention and if there’s any more opportunities like this he will bring us in a lot earlier in the process so that we can have input in it before he signed any contracts or greets anything.”
Monumental, Bowser expected to finalize deal to keep Capitals, Wizards in DC
On Wednesday, D.C. Mayor Muriel Bowser and Monumental Sports are expected to announce a new deal to keep the Capitals and Wizards in the District until 2050, pending approval from the D.C. Council, at a news conference outside Capital One Arena at 6 p.m.
Bowser was a strong proponent in keeping them in the city, highlighting the fact that she offered a $500 million deal to keep them at Capital One Arena before the announcement of Potomac Yard arena plan, calling it the “best and final offer.”
This story is developing. Check back with WTOP for updates.
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