Virginia Officials and Monumental Sports Consider Moving Washington Capitals and Wizards to Potomac Yard

Virginia officials and the owner of the Washington Capitals and Washington Wizards, Monumental Sports, have recently unveiled plans to potentially relocate the two teams from Washington, D.C. The proposed move comes as part of a broader development project at Potomac Yard, which would feature a brand-new arena for the teams, a world headquarters for Monumental Sports, a media studio, a Wizards practice facility, an expanded esports facility, and even a performing arts venue.

Situated near the thriving National Landing area, where Amazon’s new HQ2 development is located, the proposed move could transform Alexandria into a “supercommunity” and contribute significantly to the economic growth in the region.

However, before the teams make the move, the project still needs to obtain approval from the state’s General Assembly and the city council. To ensure transparency and to gather input from the community, the city plans to initiate community engagement activities in early 2024.

The potential move to Virginia is not without its challenges. Securing the necessary approvals is expected to be a complicated process. Additionally, the modernization of the current Capital One Arena in D.C. will continue, with plans to accommodate up to 20,000 people for various events. It is stated that the Washington Mystics could also find their new home at the Capital One Arena.

In terms of financing, Monumental Sports and the City of Alexandria have committed to contributing $56 million each for the construction of the new performing arts venue. Nonetheless, the final outcome and the teams’ relocation will depend on successfully overcoming the hurdles that lie ahead.

Bio Prep Watch will continue to keep you informed about the latest updates on this potential move and the development at Potomac Yard. Stay tuned for more news on the possible migration of the Washington Capitals and Washington Wizards to Virginia.