• Loading stock data...
Friday, July 11, 2025

Capitals, Wizards Owner Monumental Aims to Drive ‘Downtown D.C.’s Comeback’

A plan to move the Wizards and Capitals to Virginia fell apart this year. Now they’re going to be a downtown D.C. anchor.

Dec 7, 2024; Washington, District of Columbia, USA; Washington Wizards guard Jordan Poole (13) reacts after the final horn against the Denver Nuggets at Capital One Arena.
Geoff Burke-Imagn Images

A year ago, the Washington Wizards and Capitals were bound for Virginia. 

Monumental Sports, the organization that owns both teams as well as the WNBA’s Mystics, set its sights on an entertainment complex in Alexandria while the company was deadlocked with D.C. over renovations to its downtown Capital One Arena, where the Wizards play. 

Now, the teams could become D.C. trendsetters. 

In March, Monumental Sports owner Ted Leonsis reached a deal with the city to keep his teams there with a $515 million renovation to Capital One Arena over the next three years. This came after Virginia’s state senate failed to get arena funding for the Alexandria project included in its budget.

Downtown Washington has struggled with crime, office tenant occupancy, and declining tourism in recent years. Yet the city’s ability to keep its teams within its borders now has Monumental at the forefront of the push to reinvigorate the area.

“We’re going to take a lot of pride in being part of downtown D.C.’s comeback,” Zach Leonsis, Monumental’s president of media and new enterprises said on Front Office Sports Today. “It is already coming back. And so we are sort of the anchor tenant.”

Monumental Sports and the Nationals, which the company hopes to buy if the team is put up for sale, have had downtown D.C. to themselves for years, but could be joined by the Washington Commanders down the road. The Commanders are currently lobbying Congress to give them permission to build a new stadium on the current site of RFK Stadium. 

Leonsis said he doesn’t have any insight into the RFK Stadium situation, but he would welcome the city’s NFL team. “We’d certainly be supportive,” Leonsis said. “We’ve always been of the mindset that a rising tide lifts all boats.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

The Florida State Seminoles hosted the Florida Gators at Doak Campbell Stadium on Saturday, Nov. 30, 2024.

Athletic Departments Express Renewed Interest in PE in Wake of House Settlement

Schools now have more expenses—and are looking for creative solutions.

Jalen Williams Signs Max Deal As Thunder Commit $822M to 3 Stars

Oklahoma City also extended Shai Gilgeous-Alexander and Chet Holmgren.
Caster Semenya

Caster Semenya’s Legal Win Could Reopen Fight Against Testosterone Limits

The Olympian champion’s appeal against gender eligibility rules continues.
Gareth Bale
exclusive

Gareth Bale Group Makes New Offer for Cardiff City 

Bale tells Front Office Sports his group has made another bid.

Featured Today

Jun 28, 2025; Arlington, Texas, USA; Seattle Mariners catcher Cal Raleigh (29) bats during the game between the Texas Rangers and the Seattle Mariners at Globe Life Field.

The Torpedo Bat Business Is Still Going Strong: ‘Here to Stay’

Demand for the oddly shaped bats has stayed strong across the sport.
July 6, 2025

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.
Oct 27, 2024; Philadelphia, Pennsylvania, USA; A general view of the Wells Fargo Center before game between Philadelphia Flyers and Montreal Canadiens.

New Philly Arena Will Redefine Home-Court Advantage, CEO Says

The forthcoming venue will arrive with plenty of ambition among its owners.
July 9, 2025

Browns $600M Stadium Deal Hit With Suit Over ‘Unclaimed’ Money

Ohio’s use of unclaimed funds for a new stadium is challenged legally.
April 19, 2022; Austin, TX, USA; Tim Leiweke of the Oak View Group speaks at a ribbon cutting ceremony for the Moody Center, a multi-purpose arena that will be home to concerts and the UT basketball teams on Tuesday April 19, 2022.
July 9, 2025

Oak View Founder Tim Leiweke Indicted for Alleged Rigged Arena Bid

The longtime sports executive leaves his day-to-day leadership role.
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
July 8, 2025

Chiefs Delay Stadium Decision As Kansas Dangles Dome Dreams

Kansas legislators extend bonds for potential Chiefs and Royals facilities.
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.
July 7, 2025

Wimbledon’s Expansion Battle Looms Over Star-Studded Quarterfinals

The expansion’s loudest opposition is Save Wimbledon Park.
July 2, 2025

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

Political tensions rise about delays in stadium funding approval.
July 1, 2025

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

The awarding of public funds draws criticism and could bring a lawsuit.