It's the latest blow to owner Ted Leonsis' effort to move the teams to Alexandria.
Share on nextdoor The Wizards and Capitals can't contractually leave Capital One Arena until 2047, the D.C. attorney general told the teams' owner in a letter this week."I am advising you that the District does not agree with your legal conclusion that proposed arena move to Virginia does not violate or beach its legal obligations to the District," Attorney General Brian SchwalbThe AG argues that Monumental can't get out of the lease by prepaying its outstanding bond debt.
Schwalb also says that $50 million in publicly financed improvements to the arena in 2007 hinged on a commitment to "extend the original ground lease for an additional 20 years … through 2047."Schwalb says Monumental has also "broken other promises to the District" by "negotiating a preliminary agreement with Virginia."in December, the owner of the teams, Ted Leonsis, worked behind the scenes with Virginia Gov.
Schwalb writes that a separate 2017 agreement with the city requires Monumental to notify D.C. of its intent to leave town and "negotiate exclusively and in good faith with the District for a period of six months."to Axios this week that the District's $500 million offer to modernize Capital One Arena remains on the table.A spokesperson for Monumental referred Axios to previous comments that dispute the relocation would break its lease.
"We would not have started negotiations with the city or Virginia over the last two years without sound legal counsel," Monica Dixon, Monumental's president of external affairs,Leonsis and Youngkin unveiled a handshake deal in mid-December to build a new arena district in the Potomac Yard neighborhood.The state legislature excluded the arena deal from the budget, putting it on life support.
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