WASHINGTON — The NBA’s Washington Wizards and NHL’s Washington Capitals are staying in the District of Columbia for the long term after ownership and the city reached an agreement on a $515 million arena project.
“This outcome will have significant positive impacts on economic development, public safety, and overall District energy and spirit generated by the millions of people who attend games, shows, and concerts at Capital One Arena,” Schwalb said. Alexandria said earlier Wednesday that the Potomac Yard proposal “will not move forward,” a blow to Republican Virginia Gov. Glenn Youngkin, who announced months ago with fanfare the outlines of a proposal negotiated with the teams' parent company to bring them across the Potomac River.
“We negotiated a framework for this opportunity in good faith and participated in the process in Richmond in a way that preserved our integrity," the statement said. “We trusted this process and are disappointed in what occurred between the Governor and General Assembly.”
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