The Washington Wizards and Capitals will remain in D.C. following a significant $515 million publicly funded deal, ensuring their presence until at least 2050. This decision came after Alexandria rejected a proposed Potomac Yard arena, and as the initial arena plan was crumbling in Virginia. The agreement includes major changes and expansions around the Capital One Arena, aiming to revitalize downtown D.C. and bolster local businesses. The D.C. Council has unanimously approved the funding, which is seen as a major win for the city's pride and economic vibrancy. Mayor Muriel Bowser played a crucial role in the negotiations, working quietly for months to bring the teams' owner, Ted Leonsis, back to the negotiating table. The deal also promises extensive renovations to the Capital One Arena, with the D.C. Council poised to approve the necessary renovations.
The D.C. Council voted unanimously to spend $515 million to help Wizards and Capitals owner Ted Leonsis modernize Capital One Arena and expand his company into the surrounding area, following an agreement to keep the teams playing in the downtown arena. https://t.co/cmEh59p4K8
NEWS ALERT: D.C. Council approves millions for Capital One Arena renovations, paving way for Wizards, Caps to stay in the District. Here's what comes next. https://t.co/8yDLU4QvUo
Spoke to reporters about the arena deal keeping the Wizards & Capitals in DC. The deal is great news for our collective pride & the vibrancy of downtown. This *capital* budget investment will secure *operating* budget revenue we can use for vital programs. https://t.co/sC8VxRLWUb https://t.co/PG4MN8lGz7
With the D.C. Council poised to approve $515 million in renovations to Capital One Arena as part of a deal to keep the Washington Wizards and Capitals in the nation's capital, many may be wondering what upgrades the teams could now afford to make. https://t.co/bSmlGBeFTO
7News hears from D.C. Mayor Muriel Bowser on the $515 million deal that will keep the Washington Wizards and Capitals in the District. https://t.co/NSAirbcOjV
For months, D.C.’s mayor quietly worked to bring the Wizards and Capitals’ owner back to the negotiating table, sweetening D.C.’s offer just as the arena plan was crumbling in Virginia. https://t.co/sCwluvYEB3
Next on @team980, @MayorBowser to discuss how/why the #Wizards/ #Capitals are staying put & whether or not the $515M to Ted impacts the chances of getting the #Commanders back to DC.
Washington D.C. Mayor Muriel Bowser joins @SquawkCNBC to discuss the $515 million deal with Washington Wizards and Capitals owner Ted Leonsis to keep both teams in Washington D.C. until at least 2050. https://t.co/JsQnBXAeB2 https://t.co/0MYPVQCdGs
The Capitals and Wizards sports teams are staying where they belong: In the capital city, the Editorial Board writes. https://t.co/F2xTM5sDwd
The deal struck between D.C. and the Washington Capitals and Wizards goes far beyond arena renovations. Also in The News4 Rundown: How a doctor achieved her dream after becoming a teen mom. https://t.co/4SMUc8HyQx
What upgrades are coming to Capital One Arena now that DC and Ted Leonsis have a deal for a $515 million project? Leonsis talked about it with @WTOP https://t.co/CphM6FqG54
After the announcement on Wednesday that the Washington Wizards and Capitals teams will stay in D.C., many of the nearby businesses are breathing a sigh of relief. https://t.co/5Xd63l5kyO
Downtown DC business owners thrilled as Wizards, Capitals stay put https://t.co/FPgjKUCbKo
The deal to keep the Capitals and Wizards in D.C. includes major changes for the area around Capital One Arena. https://t.co/qTwbBjxvfL https://t.co/FmHN9zKtc9
Bake-off over Capitals, Wizards ends with $515 million publicly funded deal for teams to stay in Washington DC for decades longer. https://t.co/vM1YZdJbha
The Capitals and Wizards are staying, and downtown D.C. is ready for revival, the Editorial Board writes. https://t.co/McchZqul9u
Report: Wizards, Capitals reach deal with DC gov’t to stay https://t.co/EK7d61jyzj
Downtown DC businesses owners thrilled as Wizards, Capitals stay put https://t.co/z61JljSFyI
Wizards, Capitals to stay in D.C. after Alexandria kills proposed Potomac Yard arena https://t.co/lP4KHElyon https://t.co/y9GGsrK1Rf