Today, Monumental Sports CEO Ted Leonsis announced the relocation of the Washington Capitals and Washington Wizards to Potomac Yard in Alexandria, VA.

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Statement on Potential Relocation of Monumental Sports from DC
Today, Monumental Sports CEO Ted Leonsis announced the relocation of the Washington Capitals and Washington Wizards to Potomac Yard in Alexandria, VA. While the announcement does not constitute a final formal agreement, it sadly relegates the District to observer status as the Virginia Assembly takes up the proposed deal during their legislative session.

I am disappointed that we got to this place. Several of my colleagues and I have spent months advocating for action, proffering ideas, meeting with team leadership, and nearby businesses and organizations. Renewed investments and shared goals on our post-pandemic Downtown recovery should have driven a swift, strong offer to keep the Wizards and Capitals home where they belong for another 30 years. Unfortunately, a more collaborative effort never materialized to negotiate a new deal in earnest.

When the arena opened 26 years ago it announced to everyone that Downtown DC was back. Two of our esteemed franchises had decamped from their suburban arena and were part of the renaissance taking hold in our city. Downtown’s recovery from the desolation of the 1968 riots was in full swing. New retail, new residences, and new restaurants all beckoned local and regional visitors. The venue also generated more than 200 event nights annually, contributing mightily to our tax base as fans parked, dined, and enjoyed themselves in newly vibrant corridors. This resurgence provided a salve to the loss of our NFL team only a few years earlier.

Monumental can still choose to stay and we stand ready to make it happen. Regardless of the decision they ultimately make, I remain a champion for DC’s sports and entertainment economy for all our local professional and collegiate teams. We will rise to the occasion, we will reimagine Gallery Place/Chinatown and Penn Quarter into thriving, vibrant, safe places for residents and visitors alike. I look forward to working with the business and community leaders who share my sense of urgency and understand the challenge and opportunity before us to build the next great downtown.



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