Monumental Sports and Entertainment is set to announce on Wednesday that the Verizon Center will now be known as Capital One Arena, according to Dan Steinberg of the Washington Post.
Steinberg is also reporting the ownership group will be making some new investments in the arena, which will turn 20 years old later this year:
Monumental will also announce a separate $40 million investment in the privately owned arena, with the money going toward projects such as Monumental360 — a data-based effort to analyze fan preferences — and a new point-of sale system, meant to create more efficient lines. That system will likely offer discounts to Capital One cardholders.
Monumental has also released a video to promote the name change:
The name change means the first game held at the new Capital One Arena will be the Mystics’ game on Saturday against the Indiana Fever. It also means the final Wizards game played at the Verizon Center was a win. You may remember it:
In hindsight, it’s a good thing Wall didn’t try to go glass on that shot, because the bank wasn’t open yet. We’ll show ourselves out now.