Monday, May 25, 2026

Capitals’ and Wizards’ Move to Virginia Appears Dead in State House Budget

  • Virginia’s Senate is poised to omit funds for a new multipurpose arena in Alexandria from its budget Thursday, effectively blocking the best shot the teams had at moving out of D.C.
  • The planned move has drawn backlash since its December announcement and now puts team owner Ted Leonsis at a crossroads. 
Tommy Gilligan-USA TODAY Sports

Plans to move the Washington Capitals and Wizards to Virginia appear to be on hold. Or at least, according to one meme, six feet under. 

Virginia’s Senate plans to remove plans for a new multipurpose arena in Alexandria, Va., from the state budget, which would prevent the teams from moving across the Potomac River. 

State Sen. L. Louise Lucas told The Washington Post on Wednesday night the arena language will not be in the budget when it’s released around midday Thursday. She also tweeted a Photoshopped depiction of herself flashing a peace sign over a grave with a headstone reading “Youngkin and Leonsis’ $5 billion arena,” a reference to Virginia governor Glenn Youngkin, who had supported the proposed move, and Monumental Sports head Ted Leonsis, who owns both the Capitals and Wizards.

The plans to move both teams out of the nation’s capital have been met with controversy and backlash. Leonsis and Youngkin never consulted the state’s lawmakers before agreeing in December to the move, backed by a proposed $1.5 billion in taxpayer-backed bonds. Lucas, though, has opposed the move, despite any supposed economic impact that a new arena and entertainment complex could bring to the state. Among her complaints: subsidizing a billionaire. But Lucas, who chairs the state’s finance committee, also said that had Youngkin entertained more Democratic priorities, such as legalizing marijuana and raising the minimum wage, she might have come around on the proposal. 

With the move seemingly dead, the ball is in Leonsis’s court. D.C. leaders have a standing offer of $500 million in renovations to his teams’ current home, Capital One Arena, though that’s roughly $100 million short of what Leonsis originally asked for. The city has also put together a task force to contemplate the arena’s future should the team move.

This field is for validation purposes and should be left unchanged.

Sign up for
The Memo Newsletter

Get the biggest stories and best analysis on the business of sports delivered to your inbox twice every weekday and twice on weekends.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

May 24, 2026; Las Vegas, NV, USA; Kristian Gkolomeev (GRE) poses with Enhanced co-founder Max Martin after setting a world record in the 50m freestyle of 21.81 during the Enhanced Games at Resorts World Las Vegas.

Clean Athletes Stole the Show at the Enhanced Games

Three clean athletes won events against performance-enhancing peers.

Sportradar Hit With Lawsuit Over Alleged Illegal Gambling Ties

The suit alleges investors were harmed by shady overseas business conduct.

Felix Rosenqvist Wins Wild Indy 500 After Record 70 Lead Changes

There were 14 different leaders at various points in the race.

Padres Star Tatis on Hook for Millions After Legal Setback

A judge ruled the Padres star cannot void an arbitrator’s ruling.

Featured Today

Big Money on the Line on Premier League’s Final Day

Arsenal has won the title, but millions are still at stake.
Texas State mascot
May 22, 2026

Mascot-Reveal Videos Are the Newest College Sports Tradition

Student mascot unmasking videos are going mega-viral.
Charlie Pliner and Nikolas Rohrmann
May 22, 2026

How 2 Brown Undergrads Became Sports Dealmakers

An experimental project turned into a permanent course and business deal network.
May 14, 2026

NFL Rivalries Are Made on the Field, Mocked in Schedule Release Videos

Every year, teams find new ways to one-up themselves (and their rivals).

Rays $2.3B Stadium Plan Survives Narrow Tampa City Council Vote

The Tampa City Council narrowly approves a non-binding stadium agreement.
May 4, 2026; St. Petersburg, Florida, USA; Tampa Bay Rays left fielder Chandler Simpson (14) greets right fielder Ryan Vilade (26) at home plate after hitting a three-run home run against the Toronto Blue Jays in the first inning at Tropicana Field.
May 15, 2026

Rays Reach Preliminary Agreement With City, County on Ballpark

The stadium would be located near Raymond James Stadium, home of the Buccaneers.
May 20, 2026

Political Sparring Intensifies Over Bears’ $5B Stadium Future

The stadium saga is the center of a growing political fight.
Sponsored

The Hidden Economy of Race Weekend

Learn more about the Vintage Flying Museum and how Spectrum Business is helping them achieve their business goals while fueling their dreams.
Sponsored

Fueling Dreams with Spectrum Business

Behind every league, team, and major event are the communities and small businesses helping power the business of sports.
Cleveland Browns players Denzel Ward and Carson Schwesinger, left, join with others as they take part in the ceremonial groundbreaking for the new Huntington Bank Field in Brook Park, Ohio on April 30, 2026.
May 1, 2026

Browns Break Ground on New Stadium, but Funding Still in Limbo

State and local funding for the planned venue is not yet solidified.
April 22, 2026

Royals’ New $3B Stadium Lands Downtown, but Not Where Expected

The MLB club strikes a large-scale development deal with Hallmark Cards.
April 21, 2026

Illinois Lawmakers Race to Advance $5B Bears Stadium Plan

State legislators race against the clock as a stadium decision nears.