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The Washington Wizards have undergone plenty of changes recently, from the front office down to the coaching staff and roster. However, DC Mayor Muriel Bowser is doing all she can to ensure their home address stays the same.
Bowser proposed legislation to buy Capital One Arena, via NBC 4 Washington's Mark Segraves.
“BREAKING: After months of negotiations to keep @WashWizards & @Capitals in DC @MayorBowser proposes legislation to buy @CapitalOneArena for $87.5 million and lease back to @MSE [Monumental Sports and Entertainment] for $1.3 – $2.5 mil a year thru 2050,” Segraves reported.
MSE, a sports and venue management company that's owned the Wizards since 2010, announced a non-binding agreement in December with Virginia Governor Glenn Youngkin to move the team to Alexandria, Virginia by 2028. The Wizards and Capitals were set to play in a planned arena in Potomac Yard that would be part of a $2 billion arts and entertainment district. However, Alexandria officials announced that the deal was scrapped in March, allowing the DC government to swoop in.
Bowser sounded off on the newest chapter of this saga, via Segraves.
“We’re keeping Washington’s teams where they belong – here in the Sports Capital, and we’re doubling down on having a world-class destination and entertainment district in the center of DC,” Bowser said in a press release on Monday. “We know that when our Downtown does well, our city does well. This catalytic investment is an investment in our residents and businesses in all eight wards.”
Monumental CEO and Wizards majority owner Ted Leonsis also released a statement.
“Our vision for a wholly re-imagined sports and entertainment destination will be ambitious, reflective of our community, and designed to ‘wow’ our most ardent supporters as well as casual fans,” Leonsis said.
The public-private partnership is a part of a $515 million plan to revitalize the arena and next-door Gallery Place complex. Bowser and Leonsis signed the deal at center court in the arena before a home game back in March, but details were still being negotiated, and the legislation has not yet passed through local government.
What will change about the Wizards' home?
Capital One Arena will be a better locale for Wizards fans
Some of the contract's details are as follows, via Segraves:
- “The District will provide $515 million over three years for construction costs
- Leonsis will be able to expand into 200,000 square feet in Gallery Place
- The expansions will include a new practice facility for the Wizards downtown
- Improvements will be made to transportation options around the arena, including a dedicated ride-share zone and drop-off for events
- There will be no streatery on 6th Street NW
- F Street NW will be closed two hours before games.”
Capital One Arena, which was called the “Verizon Center” before 2017, is in the heart of DC's Chinatown neighorhood. The adjacent mall is mostly vacant, and the surrounding area is full of seperate establishments unrelated to the Wizards or Capitals. Leonsis wants the area to be a proper sports and entertainment complex, rather than an aging arena that blends into the urban locale.
The improvements will be gradual, but they can only mean good things for the Wizards' franchise. For one, it's good for the team to stay in its original city, as to not alienate its loyal fanbase. Also, having a more appealing home base will help attract more casual fans and keep the die-hards invested.
If Leonsis' and Bowser's joint vision comes to fruition, the new complex should be complete by the end of the decade, which aligns with when the Wizards front office plans to see the fruits of its rebuild. A contending team in a state-of-the-art facility in an appealing neighborhood is the type of dream scenario that everyone in the sports world dreams of, owners and fans alike.
