DC mayor proposes $87 million offer to buy Capitol One Arena to keep teams in city

Washington, D.C., Mayor Muriel Bowser put forth an offer of $87 million to buy the Capitol One Arena to keep sports teams within the city.

The location of the Washington Capitals and Wizards came into question late last year after Gov. Glenn Youngkin (R-VA) introduced an ambitious plan to construct a new sports stadium in Virginia, where the teams would move. Plans fell through in March when Virginia lawmakers blocked funding for the project. On Monday, after months of negotiations, Bowser and Monumental Sports and Entertainment CEO Ted Leonsis announced a new deal to keep the teams in D.C. through 2050.

“We’re keeping Washington’s teams where they belong — here in the Sports Capital, and we’re doubling down on having a world-class destination and entertainment

Continue reading