Monumental Sports & Entertainment CEO Ted Leonsis, Virginia Gov. Glenn Youngkin, and other local leaders announced Wednesday an ambitious plan for a public-private partnership that would relocate the NBA’s Washington Wizards and NHL’s Washington Capitals from D.C. to a newly proposed entertainment district in Alexandria’s Potomac Yard.
The proposal, which would need the state legislature’s approval, calls for the creation of a $2 billion sports and entertainment district that would span 70 acres. The project would include a new global headquarters for Monumental Sports, a state-of-the-art arena for the Capitals and Wizards, a Monumental Sports Network media studio, practice facilities, a performing arts venue, and an enhanced Esports facility. The move, if finalized, is planned for 2028.
“What we are about is putting unity in a community, and really helping this region bring up to its total promise,” Leonsis said at Wednesday’s press conference.
A rendering showing the newly proposed entertainment district in Alexandria’s Potomac Yard that features an arena for both the Washington Capitals and Washington Wizards, and the global business headquarters for Monumental Sports & Entertainment (JBG SMITH)
In a statement released before the announcement, Leonsis said his group is committed to “providing world-class fan experiences while continuously evolving our teams, deepening community ties, and solidifying our role as leaders at the forefront of sports and technology.”
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