{"id":15437,"date":"2023-12-13T23:34:45","date_gmt":"2023-12-13T18:04:45","guid":{"rendered":"https:\/\/farratanews.online\/washington-capitals-wizards-moving-to-2-billion-entertainment-complex-in-virginia-gov-youngkin-announces\/"},"modified":"2023-12-13T23:34:45","modified_gmt":"2023-12-13T18:04:45","slug":"washington-capitals-wizards-moving-to-2-billion-entertainment-complex-in-virginia-gov-youngkin-announces","status":"publish","type":"post","link":"https:\/\/farratanews.online\/washington-capitals-wizards-moving-to-2-billion-entertainment-complex-in-virginia-gov-youngkin-announces\/","title":{"rendered":"Washington Capitals, Wizards moving to $2 billion entertainment complex in Virginia, Gov. Youngkin announces"},"content":{"rendered":"

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Check out what’s clicking on FoxBusiness.com<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

The NHL\u2019s Washington Capitals and NBA\u2019s Washington Wizards are moving out of the District of Columbia and into a new $2 billion “world-class” entertainment complex that will be built in Alexandria, Virgnia, the state\u2019s Gov. Glenn Youngkin announced Wednesday.\u00a0<\/p>\n

The project in the city\u2019s Potomac Yard area \u2013 which will be funded under a public-private partnership — is set to break ground in 2025 and will open in late 2028, according to Youngkin\u2019s office.\u00a0<\/p>\n

It said it will include a new global corporate headquarters for Monumental Sports & Entertainment \u2013 the owner of both teams \u2013 as well as “an industry-leading Arena for both the Washington Capitals and Washington Wizards, a state-of-the-art Monumental Sports Network media studio, the Wizards practice facility, a performing arts venue, and an expanded esports facility, in addition to bringing new retail, residential, restaurants, hotels, conference, and community gathering spaces. \u00a0<\/p>\n

“This is the most visionary sports and entertainment development in the world, bringing together entertainment, sports, and technology in the most advanced innovation corridor in the United States: a once-in-a-generation and historic development for the Commonwealth, sports fans, and all Virginians,” Youngkin said in a statement Wednesday.\u00a0<\/p>\n

ISLANDERS USING METLIFE STADIUM GAME AS \u2019INSPIRATION\u2019 TO OPEN OUTDOOR RINKS AT ARENA<\/strong>\u00a0<\/strong><\/p>\n

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The Washington Capitals celebrate after a goal by Alex Ovechkin during the Stanley Cup Playoffs in April 2018.<\/span> (Toni L. Sandys\/The Washington Post via Getty Images \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n

“The Commonwealth will now be home to two professional sports teams, a new corporate headquarters, and over 30,000 new jobs \u2013 this is monumental,” he added.\u00a0<\/p>\n

Youngkin\u2019s office is estimating that the new project will “generate a combined $12 billion in economic impact for the Commonwealth and City of Alexandria.” \u00a0<\/p>\n

OHTANI\u2019S ASTRONOMICAL CONTRACT COMES WITH WILD TWIST AS DEFERRED MONEY DETAILS COME TO LIGHT<\/strong>\u00a0<\/strong><\/p>\n

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Monumental Sports & Entertainment CEO Ted Leonsis shakes hands with Virginia Gov. Glenn Youngkin during an announcement of a new sports arena for the Washington Wizards and Washington Capitals on Wednesday, Dec. 13 in Alexandria.<\/span> (Win McNamee\/Getty Images \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n

The Capitals and Wizards currently play in the Capital One Arena in Washington, D.C., just blocks away from the White House. The facility is owned by Monumental Sports & Entertainment.\u00a0<\/p>\n

Youngkin\u2019s announcement comes after D.C. Mayor Muriel Bowser and D.C. Council Chairman Phil Mendelson said Tuesday that they “unveiled legislation to support a complete renovation and modernization of the Capital One Arena,” which opened in December 1997.\u00a0<\/p>\n

“The legislation, which has unanimous support from the DC Council, outlines the District\u2019s contribution of a half billion dollars to the modernization project to create a state-of-the-art urban arena and solidifies Monumental Sports & Entertainment as an economic anchor of the Gallery Place-Chinatown entertainment district and a destination for District residents and visitors,” her office had said in a statement.\u00a0<\/p>\n

But Monumental Sports & Entertainment CEO Ted Leonsis said “this is a once-in-a-lifetime opportunity to expand” and “we hope Capital One Arena and downtown D.C. remain an essential part of our future.”\u00a0<\/p>\n

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The Wizards are one of the two teams set to move to Virginia in 2028.<\/span> (Scott Taetsch\/Getty Images \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n

CLICK HERE TO READ MORE ON FOX BUSINESS<\/strong>\u00a0\u00a0\u00a0\u00a0<\/strong> \u00a0 \u00a0<\/p>\n

“We have plans to support ongoing development of Capital One Arena, and Monumental would continue to invest in the building and maintain its standing as one of the busiest arenas in the nation \u2013 continuing to host world-class live entertainment, covering a wide spectrum of music, comedy, cultural, community, and sporting events,” he added.\u00a0<\/p>\n

Fox News\u2019 Chad Pergram contributed to this report.\u00a0<\/i><\/p>\n<\/div>\n[ad_2]\n","protected":false},"excerpt":{"rendered":"

[ad_1] Check out what’s clicking on FoxBusiness.com The NHL\u2019s Washington Capitals and NBA\u2019s Washington Wizards are moving out of the District of Columbia and into a new $2 billion “world-class” entertainment complex that will be built in Alexandria, Virgnia, the state\u2019s Gov. Glenn Youngkin announced Wednesday.\u00a0 The project in the city\u2019s Potomac Yard area \u2013 …<\/p>\n","protected":false},"author":1,"featured_media":15439,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"_links":{"self":[{"href":"https:\/\/farratanews.online\/wp-json\/wp\/v2\/posts\/15437"}],"collection":[{"href":"https:\/\/farratanews.online\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/farratanews.online\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/farratanews.online\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/farratanews.online\/wp-json\/wp\/v2\/comments?post=15437"}],"version-history":[{"count":0,"href":"https:\/\/farratanews.online\/wp-json\/wp\/v2\/posts\/15437\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/farratanews.online\/wp-json\/wp\/v2\/media\/15439"}],"wp:attachment":[{"href":"https:\/\/farratanews.online\/wp-json\/wp\/v2\/media?parent=15437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/farratanews.online\/wp-json\/wp\/v2\/categories?post=15437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/farratanews.online\/wp-json\/wp\/v2\/tags?post=15437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}