Washington Wizards and Capitals to Stay in DC Until 2047: Potential Move to Virginia Put on Hold

The Washington Wizards and their main shareholder Monumental Sports and Entertainment recently considered moving to Virginia, but that has now been put on hold. Both the Wizards and the NHL’s Washington Capitals must remain in the capital until at least 2047.

According to the AP, Brian Schwalb, the government’s general counsel in DC, wrote a letter to Monumental Sports and Entertainment in which Schwalb pointed to a 2007 agreement in which the city committed to $500 million in renovations to the Capital One Arena. In return, the contract between the city and the company from 2027 was extended for another 20 years.

Schwalb emphasized in the letter that the offer of renovations still stands. At the same time, Schwalb wanted to avoid the case going to court. Instead, the city wants to continue to maintain good relationships with MSE, which represents the Wizards and Capitals, and continue the partnership until at least 2047.

MSE, on the other hand, had been eyeing a move to Virginia for several months to build a new arena in Alexandria, across the Pontiac River near Ronald Reagan Airport. MSE would not have had to pay anything; instead, the state of Virginia would have covered the costs. This recently caused discussion, with Democratic Senator Louise Lucas in particular sharply criticizing it. “Why would we build an arena for an organization that breaks a contract in Washington DC? Does anyone think they wouldn’t do the same to us?”

The arena in DC opened in 1997, after which the then Bullets played in Landover, Maryland, a suburb of the capital, for almost 25 years.

2024-03-23 07:06:00
#Franchise #stay #capital