Monumental plans to move Wizards, Capitals to new arena in Alexandria’s Potomac Yard

By Dan Brendel – Staff Reporter, Washington Business Journal

Monumental Sports & Entertainment plans to move the Washington Wizards and Capitals from D.C. to a new publicly financed arena in Potomac Yard that will anchor a $2 billion entertainment district, a huge win for Northern Virginia but a setback for efforts to revive downtown D.C.

“We want to build the most fan-friendly experience. When I saw the chance to build on 70 acres, with a clean slate, this place is one of a kind,” Monumental Chairman and CEO Ted Leonsis said Wednesday morning at a press conference with Virginia Gov. Glenn Youngkin and other state and local officials at the site of the new 20,000-seat arena in Alexandria.

Monumental announcement

Ted Leonsis, center, with Virginia Gov. Glenn Youngkin, right, and Alexandria Mayor Justin Wilson, left, during a Dec. 13 event at Potomac Yard to announce a planned arena for the Washington Wizards and Capitals, Monumental Sports & Entertainment headquarters and associated entertainment district.

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