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Glenn Youngkin to host press conference with Ted Leonsis on Wednesday regarding proposed Alexandria arena

The Virginia governor and CEO of Monumental Sports & Entertainment are much closer to a deal that would send the Washington Wizards and Capitals to Potomac Yard.

amazon hq2 opens Amanda Andrade-Rhoades/For The Washington Post via Getty Images

Virginia Governor Glenn Youngkin will hold a press conference on Wednesday with Monumental Sports & Entertainment CEO Ted Leonsis in Alexandria, Va., according to multiple reports, including Adrian Wojnarowski of ESPN and Scott Abraham of WJLA-TV.

From the reports, it appears that Monumental Sports & Entertainment is a lot closer to moving the Washington Wizards and Capitals from Capital One Arena to Virginia than previously thought. Even the Q&A I put out earlier this afternoon is seemingly moot after every passing minute.

But that’s okay. We live in a realtime news world.

And that’s where Abraham’s report comes in. From reading it, I find this an offer difficult to refuse. Here are some of the things that would be provided BESIDES a new multipurpose arena for the Wizards and Capitals:

  • A 3,000 seat music and entertainment venue that also serves as a conference center. It could be a place that rivals Anthem in The Wharf and the 9:30 Club on the U Street corridor.
  • The new headquarters for Monumental Sports & Entertainment
  • A new hotel to serve the area

A report by Mark Seagraves, Drew Wilder and Carissa DiMargo of WRC-TV noted that the Alexandria City Council will have a closed door session regarding the economic development in Potomac Yard. It may also include a parade.

If you want to know why this deal appears imminent, it is because Monumental Sports has been in consultation with the Virginia government during this process, according to Abraham. And from Abraham’s reports, it appears that Leonsis believes that this is the best decision he can make for his entertainment enterprise.

Tomorrow, when this conference happens, don’t be surprised to see Youngkin and/or Leonsis say that the Wizards and Capitals are moving to Alexandria. But don’t be surprised to see if Leonsis is simply saying that this is the “most appealing offer.”

Let us know your thoughts in the comments below.