Teams in Washington, Wizards and Capitals, agree to new deal to stay in D.C. after relocation to Virginia is canceled, report says

The Washington Capitals and Washington Wizards will remain in Washington, D.C., until at least 2050 after the City of Alexandria, Virginia announced the end of negotiations to bring them to the city along with a proposed development district. Unfortunately, an incentive plan offered by Governor Glenn Youngkin was blocked by lawmakers in the state’s General Assembly, which prevented the proposal from moving forward.

The city expressed disappointment in the outcome, as they believed the Potomac Yard Entertainment District opportunity was worth considering. However, after Alexandria’s announcement, the Wizards and D.C. Mayor Muriel E. Bowser were reportedly finalizing a deal to keep the teams in Washington at Capital One Arena until 2050. The city plans to provide $515 million to modernize the existing arena as part of this agreement.

The decision to stay in Washington contradicts previous plans by Ted Leonsis to move both teams to a new home in Alexandria as part of a $2.2 billion mixed-use development project. Despite this setback, the city remains committed to pursuing economic opportunities that improve their quality of life and economic health.

Governor Youngkin blamed personal and political agendas for driving away the Alexandria project. The failure highlights the challenges of balancing economic development with political interests in such negotiations.

The City of Alexandria engaged in substantial community engagement over the past few months to inform negotiations and improve the proposal for the community. They trusted the process and preserved their integrity while participating in discussions, but were disappointed by the outcome between

By Samantha Johnson

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