Capitals and Wizards move to Virginia falls through

The potential move to Virginia for the Washington Capitals and Wizards along with the construction of an entertainment district have been scrapped.

Alexandria Mayor Justin Wilson released a video statement yesterday announcing they have ended all negotiations on the $2 billion complex.

A few hours later, DC Mayor Muriel Bowser and Ted Leonsis, owner of the Washington Capitals and Wizards through his organization Monumental Sports and Entertainment, announced a $500 million investment to modernize Capital One Arena and improve the surrounding areas.

Governor Glenn Youngkin, who advocated for the move, released a statement regarding his disappointment in the deal falling through.

Youngkin previously stated that the entertainment district could bring $12 billion and 30,000 jobs to the Commonwealth.

Opponents of the deal cited the $1.5 billion in bonds supported by Virginia tax payers and a recent announcement from DC’s Attorney General that found Monumental had previously agreed to stay in the city till 2047.

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