NHL’s Capitals and NBA’s Wizards are staying in Washington after Virginia arena deal collapses

When Ted Leonsis told District of Columbia Mayor Muriel Bowser late last year that the NBA’s Washington Wizards and NHL’s Washington Capitals he owns would probably be leaving Washington for Virginia, she told him no, they would not.

Ultimately, she proved to be right.

The teams are staying in the District for the long term after Gov. Glenn Youngkin’s plan to lure them to Virginia imploded and the city and ownership reached an agreement on a $515 million, publicly funded arena project.

Bowser and Leonsis signed a letter of intent Wednesday for the deal, which keeps the teams in the District through 2050. They announced the development at a joint news conference at Capital One Arena, the teams’ current home, minutes later.

“It’s a great day, and I’m really relieved,” Leonsis said. “This was not only the right thing for the community, the right thing for the city, the right thing for us, it’s a really smart business deal.”




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