A basic view of the Washington Wizards logo design on a court mop before the video game in between the Washington Wizards and the Chicago Bulls at Capital One Arena on October 21, 2022 in Washington, DC.
Scott Taetsch|Getty Images
The NHL’s Washington Capitals and NBA’s Washington Wizards are slated to relocate to Alexandria, Virginia, as part of a $2 billion home entertainment complex effort, the state’sGov Glenn Youngkin revealed Wednesday.
The advancement, about 8 miles south of Washington, D.C., will house the brand-new worldwide head office for Monumental Sports & &(************************************************************ )which owns the Capitals and Wizards, in addition to the brand-new home arena for the groups. The 9 million-square-foot district will likewise include mixed-use retail, hotel and conference areas.
“This is the most visionary sports and entertainment development in the world. The Commonwealth will now be home to two professional sports teams, a new corporate headquarters, and over 30,000 new jobs – this is monumental,” Youngkin stated in a declaration.
Construction on the complex is slated to start in 2025 and it is set to open in late 2028.
The advancement undergoes legal approval, the declaration kept in mind. Legislators will need to greenlight the development of the complex in the next Virginia General Assembly session.
The $2 billion financial investment will originate from bond sales in addition to a $403 million contribution from Monumental Sports & & Entertainment.
“We are committed to providing world-class fan experiences while continuously evolving our teams, deepening community ties, and solidifying our role as leaders at the forefront of sports and technology,” stated Monumental chairman and CEO Ted Leonsis in a different declaration.
