The Capitals and Wizards time in the nation’s capital may be coming to an end.
Ted Leonsis, who owns the NHL and NBA teams, is expected to be at an event on Wednesday announcing a plan to move both clubs to the Potomac Yard area, according to 7News.
Virginia Governor Glenn Youngkin will be in attendance at the news conference in Arlington.
The project would include building a sports district that has a new venue that both teams would play in, along with a 3,000-seat music venue, hotels and headquarters for Monumental Sports and Entertainment – the parent company that controls both teams.
Virginia state lawmakers voted to approve the project on Monday, but that was merely a first step in the process.
The full General Assembly and Alexandria City Council still need to give the green light, according to 7News.
If the proper approvals are secured, ground could be broken by 2025 and the Wizards and Capitals could move into their new home in Northern Virginia in 2028.
Capital One Arena in downtown Washington, D.C. has been home to both teams since 1997 and the teams will continue to play there until they solve their arena situation going forward.
The WNBA’s Washington Mystics – also owned by Leonsis and Monumental Sports and Entertainment – would remain in Washington D.C.
Since news of Leonsis’ plans have become public, D.C. officials have scrambled to try and keep the major league teams inside the city limits.
Washington, D.C., Mayor Muriel Bowser announced plans to offer $500 million in financing for “a complete renovation and modernization” of Capital One Arena.
“Downtown DC is the District’s economic engine that provides revenue resources to support important programs in the city. Mr. Leonsis and Monumental Sports have been critical partners in keeping our downtown thriving, especially after the pandemic. The modernization of the Capital One Arena will be an invaluable investment for continued success and our future prosperity,” Mayor Bowser said in a statement on Tuesday.
“This proposal represents our best and final offer and is the next step in partnering with Monumental Sports to breathe new life and vibrancy into the neighborhood and to keep the Washington Wizards and the Washington Capitals where they belong – in Washington, DC.”
If the Caps and Wizards do move, it would leave just the Mystics and Nationals as the lone teams that call D.C. home and play in the city limits.