In a major development for sports fans in the Washington, D.C. area, Ted Leonsis, the principal owner of the Washington Wizards and Washington Capitals, has unveiled plans to relocate both NBA and NHL franchises from downtown Washington, D.C. to northern Virginia. The move, contingent on legislative approval, aims to have the teams playing in a new arena by 2028.

Leonsis, founder, chairman, and CEO of Monumental Sports and Entertainment, made the announcement at an event on a 70-acre site in Alexandria's Potomac Yard neighborhood. He was joined by Virginia Governor Glenn Youngkin, U.S. Senator Mark Warner, Alexandria Mayor Justin Wilson, and members of Alexandria's city council.

The proposed new entertainment district, subject to approval from elected officials, will not only house the new arena but also include a performing-arts venue, a practice facility for the Wizards, and a studio for Monumental Sports Network. Leonsis emphasized the commitment to creating job opportunities, paying taxes, and collaborating with local educational institutions like Virginia Tech and George Mason University.

While the future of Capital One Arena, currently owned by Monumental Sports and Entertainment, is uncertain with the planned relocation, officials have expressed excitement about potentially updating the arena for the Washington Mystics, the WNBA franchise also owned by Leonsis. The Mystics currently play at the Entertainment and Sports Arena in Southeast Washington, along with the G League's Capital City Go-Go.

Jim Van Stone, Monumental's president of commercial operations, mentioned that Capital One Arena would still be a thriving venue, hosting Mystics games, concerts, and other shows, despite the loss of 41 regular-season home games each for the Wizards and the Capitals. He emphasized the potential for more open dates at the arena, allowing for a variety of alternative programming.

The approval for the new sports and mixed-use campus at Potomac Yard is still pending, as it requires the consent of the full state legislature in early 2024. Leonsis previously requested financial assistance from the city of Washington, D.C., for the renovation of Capital One Arena. However, D.C. Mayor Muriel Bowser and D.C. council chairman Phil Mendelson unveiled legislation offering $500 million in financing for the project, aiming to keep Monumental Sports and Entertainment as a key economic anchor of the Gallery Place-Chinatown entertainment district.

Despite the potential relocation, Leonsis assured that the teams would continue to be an integral part of the entire DMV (D.C., Maryland, Virginia) region. The move to northern Virginia would have varying impacts on fans, particularly those based in the northern areas of D.C. and the Maryland suburbs. The increased travel distance and weekday evening games could pose challenges for some fans, although Leonsis expressed confidence in the passion of the fan bases and emphasized the teams' desire to continue flourishing in the D.C. region.

If the legislative approval is granted in Virginia, it would mark a significant shift in the sports landscape and could disrupt the downtown economic corridor that Capital One Arena has helped revitalize since its opening in 1997. The potential relocation reflects Virginia's determination to attract professional sports teams, highlighting efforts to woo not only the Wizards and Capitals but also the NFL's Washington Commanders for a new stadium.

Overall, the proposed move to northern Virginia represents a transformative opportunity for Monumental Sports and Entertainment, with the goal of creating a state-of-the-art urban arena and further enhancing the regional sports scene.