Washington, D.C., Mayor Muriel Bowser announced a deal Wednesday that keeps two professional sports teams at Capital One Arena, their home in downtown D.C., until 2050.
Ted Leonsis, owner of the NBA’s Wizards basketball team and NHL’s Capitals hockey team, told The Washington Post that the city’s downtown revival plan and passage of a crime bill are among the factors that convinced him to reverse plans to move the teams to the Virginia suburbs. The city’s downtown has struggled with crime as well as empty offices and storefronts since the COVID-19 pandemic.
Pending approval from the D.C. Council, the district will invest $515 million to help Leonsis expand and modernize the arena. The renovation, which will total around $800 million, will also include improving the flow of pedestrian and vehicle traffic around the arena, increasing accessibility and adding retail and concessions, according to a press release from the mayor’s executive office.
“This is a catalytic investment in Downtown DC,” Bowser said in a statement.
Read our full coverage of the city’s downtown revival plan:
