Wizards and Capitals owner Ted Leonsis wants to relocate the NBA and NHL franchises, but his plans for a multibillion-dollar sports and entertainment development face a new challenge.
In December, Washington Wizards owner Ted Leonsis and Virginia Gov. Glenn Youngkin announced plans to move the Wizards out of Washington, D.C., in favor of a multibillion-dollar sports and entertainment complex located across the Potomac River. A new arena for the Wizards and the Washington Capitals, the city's NHL franchise, could be constructed in the Potomac Yard area in nearby Alexandria, Virginia.
Aside from the potential bond agreement issues, the $2 billion plan for the new arena and entertainment district also faces challenges in the Virginia Legislature. Earlier this month, Virginia Democratic Sen. L. Louise Lucas used her perch as chair of the Finance and Appropriations Committee to keep the arena deal struck by Youngkin and Leonsis out of the state budget. That development doesn’t necessarily mean the end of the plan, but it complicates things.
Why are we discussing an arena at Potomac Yard with the same organization that is breaking their agreement and commitments to Washington DC? ' Lucas wrote on social media. 'Does anyone believe they wouldn’t do exactly the same thing to us?' D.C. Mayor Muriel Bowser previously suggested the city would be willing to contribute an estimated $500 million toward arena renovation, and Schwalb said that offer still stands.
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