Alexandria, Virginia – Negotiations to bring the Washington Capitals and Wizards to Northern Virginia have officially ended, with the arena proposal not moving forward. The $2 billion plan for a sports and entertainment complex in Potomac Yard, supported by Gov. Glenn Youngkin, faced opposition in the Virginia General Assembly due to Democratic resistance to the deal.
City leaders in Alexandria expressed disappointment with the outcome, stating that they believed the Potomac Yard Entertainment District opportunity warranted community discussion and council consideration. Youngkin, in a statement to the media, shared his disappointment with the General Assembly for not accepting the deal that would have brought the Capitals and Wizards to Potomac Yard.
Monumental Sports & Entertainment managing partner Ted Leonsis, Governor Youngkin, and Alexandria City Mayor Justin Wilson had announced plans in December 2023 to establish a new arena and entertainment district for the Capitals and Wizards in Potomac Yard. However, the proposal faced immediate opposition from residents and local officials.
Despite Youngkin’s efforts to push for the deal, Virginia lawmakers excluded the proposed arena agreement from the approved two-year budget, citing concerns over reliance on state and city bonds. State Sen. L. Louise Lucas, a vocal opponent of the deal, expressed relief when Monumental decided to remain in Washington DC, celebrating what she called the avoidance of a “Monumental Disaster.”
State Sen. Scott Surovell criticized the governor for his unwillingness to compromise, highlighting the missed opportunity for a productive conversation to find a solution. The focus now shifts to D.C., where Mayor Muriel Bowser and Monumental Sports are expected to finalize a deal to keep the Capitals and Wizards in the District until 2050.
Bowser, who had previously offered a $500 million deal to retain the teams at Capital One Arena, remains committed to keeping them in the city. With developments unfolding, stakeholders are waiting for further updates on the situation. Stay tuned for more information as the story continues to evolve.