NBA’s Washington Wizards and NHL’s Washington Capitals could soon have a new home. Monumental Sports & Entertainment, which owns the two franchises, confirmed this week that they agreed on a plan that will see the Wizards and Capitals move to Alexandria, Virginia.
Virginia Governor Glenn Youngkin also confirmed the proposed move, saying that the state plans to develop an “industry-leading arena” and invest $2 billion in a new entertainment district that would also feature a practice facility, restaurants, and a shopping complex.
The completion of the project is scheduled for 2028. However, it remains subject to legislative approval by the Virginia General Assembly.
Ted Leonsis, the CEO and owner of Monumental Sports & Entertainment, said in a statement that the relocation would allow the company to “uphold our commitment to building an exceptional experience for our fans, employees, and partners.”
“We are committed to providing world-class fan experiences while continuously evolving our teams, deepening community ties, and solidifying our role as leaders at the forefront of sports and technology,” Leonsis added.
Leonsis also revealed that his company wouldn’t leave Washington, D.C., for good. Monumental Sports & Entertainment also owns WNBA’s Mystics, and the franchise could move into Capital One Arena, the current home of the Wizards and Capitals.
Shortly after the proposal was announced, D.C. Mayor Muriel Bowser launched a bid in an effort to keep the Wizards and the Capitals. Bowser proposed a $500 million initiative, which has the backing of the D.C. Council, to renovate Capital One Arena.
