The deal that will keep the Washington Capitals and Wizards in D.C. comes with a complete transformation of the downtown Capital One Arena and the Gallery Place complex next door.
Standing at center court in the arena Wednesday night, the team’s owner, Ted Leonsis, and D.C. Mayor Muriel Bowser were in a celebratory mood, excited for the future of D.C.’s Chinatown neighborhood.
“As Ted likes to say, we’re going to be together for a long time,” Bowser, wearing a Wizards jersey beneath a red blazer, said during a news conference announcing the deal.
The $515 million deal will keep the Capitals and Wizards in D.C until at least 2050. It provides for improvements to the aging arena and will allow Leonsis’ company, Monumental Sports and Entertainment, to expand into the mostly vacant Gallery Place mall next door.
Here’s some of what’s in that deal:
- The District will provide $515 million over three years for construction costs
- Leonsis will be able to expand into 200,000 square feet in Gallery Place
- The expansions will include a new practice facility for the Wizards downtown
- Improvements will be made to transportation options around the arena, including a dedicated ride share zone and drop-off for events
- There will be no streatery on 6th Street NW
- F Street NW will be closed two hours before games
Click here to read the rest of the article written by Mark Segraves over at NBC 4 Washington
