It looks like the D.C. Council definitely want to keep the Washington Capitals and the Washington Wizards downtown.
On Tuesday, after the first reading of the Downtown Arena Revitalization Act of 2024, council members unanimously voted to approve the bill — minus Vincent Gray, who recently announced he has dementia and will no longer vote before the council.
The deal with Monumental Sports and Entertainment would see D.C. offer up about $515 million to buy and renovate the arena, with the ownership group putting up the remaining cash to complete the $800 million project.
It would also keep the Capitals and the Wizards in D.C. through 2050, with an option to extend the lease to 2070.
Click here to read the rest of the article written by Will Vitka over at WTOP
