Washington Capitals and Wizards owner Ted Leonsis defended the proposed $2 billion arena and entertainment district in Alexandria, Virginia, after sharp criticism of the plan, including over leaving downtown Washington, D.C.
Leonsis penned a letter to fans in the Washington, D.C., Maryland, and Virginia area, where he attempted to quell concerns from residents over the cost to taxpayers and the location of the proposed home for the Capitals and Wizards.
“I look forward to hearing from those who are concerned, working to address any issues raised and demonstrating why I believe this is the best decision for our fans, our thousands of full and part-time employees, the teams, the athletes, our partners, and the DMV,” Leonsis said.
He explained how he believes the plan to build the entertainment district in the Potomac Yard neighborhood helps Monumental Sports provide the “best experience” for fans, athletes, and staff.
Leonsis noted that despite concerns over the teams leaving the central location of Washington, D.C., a plurality of fans, 44%, already travel from Virginia to go to Capitals and Wizards games, compared to 41% coming from Maryland and 15% from the District of Columbia.
“I disagree with claims that this project would move the teams in a way that will reduce accessibility for fans,” Leonsis said, noting its proximity to Ronald Reagan Washington National Airport, Washington, D.C., and the Potomac Yard Metro station, which serves the yellow and blue lines.
“Significant efforts are being made to study and optimize transportation options. The Entertainment District will be in a vibrant and central location for our fans, accessible by Metro, car, with 2,500 underground parking spaces, dedicated rideshare drop off, water taxi, walking, running, and bike trail,” he added.
Leonsis also pushed back on claims about funding for the arena and entertainment complex, stressing that it is a “public-private partnership” and will “require no upfront cash commitment” by Virginia.
“No new taxes will be imposed on residents or businesses in Virginia. The Commonwealth will own the arena and will use its AAA credit rating to issue bonds to raise funds for construction. The bonds used to pay for construction will be paid back through lease payments paid by Monumental Sports & Entertainment, user fees for patrons of the Entertainment District, and taxes generated by the Entertainment District, all revenues that would not exist without the project,” Leonsis said.
“Further, Monumental Sports & Entertainment will contribute over $400 million to the project,” he added.
Lawmakers in Richmond are currently considering a bill to establish a Virginia Sports and Entertainment authority, which would oversee the proposed project. Approval from the state, as well as the city of Alexandria, will be critical to the project breaking ground. Youngkin has previously stressed that the project would not hurt taxpayers in the commonwealth.
“I pledged that any project like this would first and foremost be good for the Virginia taxpayer, and that’s exactly what this project represents,” Youngkin said at a press conference last year.
Despite Monumental Sports’s plan to move its two most popular teams across the Potomac River, Leonsis also took time to address his other sports teams’ future in Washington, D.C. Leonsis said that they plan to still use the Entertainment and Sports Arena and Capital One Arena for the Capital City Go-Go and Washington Mystics.
Specifically regarding Capital One Arena, which is currently home to the Wizards and Capitals, Leonsis said they “intend to continue to support downtown Washington, DC.” He also acknowledged the “challenges” the city is going through with the Chinatown neighborhood.
“At the same time, it is clear to us, and many of our neighboring businesses and residents in Chinatown that the needs of downtown Washington, DC and its businesses and residents are significant and challenging for the city,” Leonsis said. “Just as Monumental Sports & Entertainment was part of the initial renaissance of downtown Washington, DC, we would like to be part of the next renaissance.”
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Crime in Washington, D.C., specifically in Chinatown, has been blamed for the Wizards and Capitals’ proposed move to Virginia.
If approved by state and local officials, the arena and entertainment district would break ground in 2025 and open in 2028. Leonsis is currently holding discussions with several businesses in Alexandria and Arlington over the proposed plan.
