• Loading stock data...
Wednesday, July 9, 2025

Wizards, Capitals Owner Explores Arena Options, Possible Move

  • MSE chairman eyes potential venue options as Capital One Arena now 25 years old
  • Parallel discussion occurring with government leaders in Virginia, D.C.
Geoff Burke-USA TODAY Sports

Already one of sports’ busiest executives, Monumental Sports & Entertainment chairman Ted Leonsis is now asking big questions about the future of the 25-year-old Capital One Arena.

After bringing in Qatari investment, rebranding his company’s regional sports network, playing an active role in the NBA trade market, and possibly relaunching efforts to buy the Washington Nationals, the owner of the Wizards, Capitals, and Mystics is evaluating venue options on both sides of the Potomac River.

Monumental has held exploratory talks with Virginia government officials about moving the Washington Wizards and Capitals to Northern Virginia, according to the Washington Post. It’s also conducting parallel talks with D.C. leaders about potential improvements to Capital One Arena.

The building — owned by Monumental but operating with a ground lease on city-owned land — is now one of the oldest in both the NHL and NBA and falling behind in new revenue despite renovation projects in 2007 and 2019, as well as nearly $125 million in total MSE arena investment since 2010. Leonsis could exit the ground lease as soon as 2027.

Discussions between Monumental and D.C. have also focused on development and crime trends in the arena’s Chinatown neighborhood.

“MSE has had great engagement with Mayor [Muriel] Bowser to ensure we maintain the greatest fan experience in and around Capital One Arena,” Monumental said. “We are celebrating the 25th anniversary of the arena this year and will continue to invest to build a best-in-class operation for the next 25 years.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Jul 1, 2025; Pittsburgh, Pennsylvania, USA; Pittsburgh Pirates starting pitcher Paul Skenes (30) pitches against the St. Louis Cardinals during the third inning at PNC Park.

MLB ASG Missing Many Highly Paid Stars, Clearing Path for Youth

Many of MLB’s top earners are not part of the Midsummer Classic.
Jun 27, 2025; Dallas, TX, USA; Dallas Mavericks first overall pick Cooper Flagg speaks to the media during a press conference at the Dallas Mavericks Practice Facility.

Cooper Flagg–Bronny James Summer League Tickets Average $201

The average purchase price on resale platform TickPick is $201.
A helmt is seen during the Texas Tech football team's spring game, Saturday, April 19, 2025, at Jones AT&T Stadium.

CFB’s Revenue-Sharing Era Muddles Future of NIL, Adds PE Questions

Athletic departments can pay college athletes a combined $20.5 million this year.
Jul 3, 2022; London, United Kingdom; Jannik Sinner (ITA) returns a shot during his match against Carlos Alcaraz (ESP) on day seven at All England Lawn Tennis and Croquet Club.

Wimbledon’s Expansion Battle Looms Over Star-Studded Quarterfinals

The expansion’s loudest opposition is Save Wimbledon Park.

Featured Today

American Celebs Want to Be Sports Owners. Soccer Is Where They Start

As U.S. team prices climb, investors set their sights abroad.
July 5, 2025

Baseball’s Celebrity Row: Behind MLB’s First-Pitch Ritual

Often planned, sometimes spontaneous, the ritual throw is baseball’s celebrity row.
July 4, 2025

3,000 Hot Dogs, $20K in Prizes: Behind the Nathan’s Eating Contest

Nathan’s serves up thousands of hot dogs and $20,000 in prize money.
July 3, 2025

Geoffrey Esper Can’t Catch a Break at Nathan’s Hot Dog Eating Contest

“Hot dogs is not one of my favorite competitions of the year.”

Chiefs Delay Stadium Decision As Kansas Dangles Dome Dreams

Kansas legislators extend bonds for potential Chiefs and Royals facilities.
July 1, 2025

$600M for Browns Stadium Sparks Cleveland Backlash, Possible Lawsuit

The awarding of public funds draws criticism and could bring a lawsuit.
July 2, 2025

Commanders’ $3.8B Stadium Deal in Jeopardy? Mayor Sounds the Alarm

Political tensions rise about delays in stadium funding approval.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Dealmaker Jeffrey Kaplan maps the evolution of sports as an asset class
June 29, 2025

The Battle Over Wimbledon’s Ambitious Expansion Plan

A classic NIMBY standoff on one of the most hallowed grounds in sports.
June 26, 2025

Bengals Strike 10-Year, $470M Stadium Deal to Stay in Cincinnati

The NFL franchise and Hamilton County have agreed to a new lease.
June 26, 2025

Browns $2.4B Stadium Plan Now Relies on Ohioans’ Forgotten Money

Ohio’s Modell Law is revised, while stadium funding faces new challenges.
June 25, 2025

MLB’s Bold Bristol Plan: Inside the Renovation and Potential Records

Work accelerates to convert the massive motorsports venue for baseball.