clock menu more-arrow no yes mobile

Filed under:

D.C. Mayor announces proposal to keep the Wizards and Capitals at Capital One Arena

The news comes out right as Monumental Sports & Entertainment CEO Ted Leonsis entertains an offer to move the teams into Alexandria.

Mayor Muriel Bowser and Ted Leonsis announce plans to build a sports arena at St. Elizabeth’s East in Ward 8, in Washington, DC. Photo by Bill O’Leary/The Washington Post via Getty Images

Talk about a soap opera unfolding in front of our eyes!

Just two hours ago, it seemed like Monumental Sports & Entertainment was about to move the Washington Wizards and Capitals out to Alexandria, Va. A press conference will be out tomorrow at 9 a.m. ET regarding that.

But I at least knew that the D.C. government wasn’t going to let the teams leave without a fight. Washington, D.C. Mayor Muriel Bowser released a plan where the District would provide $500 million of an $800 million total package to renovate Capital One Arena. You can read the release below.

If Monumental Sports accepts D.C.’s offer, it would still be short of the $600 million they wanted from D.C. to renovate the arena.

Either the arena doesn’t really cost $800 million to renovate or this press release is a last ditch effort to put out what the D.C. government was willing to offer toward something that Monumental Sports was going to reject anyway.

Or … maybe this Virginia proposal is simply leverage for the District all along.

Let us know your thoughts in the comments below.