The deal that will keep the Washington Capitals and Wizards in D.C. comes with a complete transformation of the downtown Capital One Arena and the Gallery Place complex next door.
Standing at center court in the arena Wednesday night, the team's owner, Ted Leonsis, and D.C. Mayor Muriel Bowser were in a celebratory mood, excited for the future of D.C.'s Chinatown neighborhood.
"As Ted likes to say, we’re going to be together for a long time," Bowser, wearing a Wizards jersey beneath a red blazer, said during a news conference announcing the deal.
The $515 million deal will keep the Capitals and Wizards in D.C until at least 2050. It provides for improvements to the aging arena and will allow Leonsis' company, Monumental Sports and Entertainment, to expand into the mostly vacant Gallery Place mall next door.
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"We can take this walkway here [between the arena and Gallery Place] and connect it," Leonsis said. "We could now start to think about what can we do architecturally to make this area truly an entertainment community."
Bowser said the investment will also be beneficial for businesses around the arena.
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Bowser and Leonsis signed the deal at center court before Wednesday night's Wizards game.
Here's some of what's in that deal:
- The District will provide $515 million over three years for construction costs
- Leonsis will be able to expand into 200,000 square feet in Gallery Place
- The expansions will include a new practice facility for the Wizards downtown
- Improvements will be made to transportation options around the arena, including a dedicated ride share zone and drop-off for events
- There will be no streatery on 6th Street NW
- F Street NW will be closed two hours before games
Leonsis spoke with News4 about his vision for a revamped Capital One Arena.
"In the bowl, I want to give better sound. I want to give better sight lines," he said. "We want to reestablish that there's more seats downstairs and less seats upstairs. That's like what all the new arenas are doing."
Leonsis plans to do the construction on the arena in the off season to not disrupt the Caps' and Wizards' home games. He said construction to the building will probably take at least four years and will be done during summers.
Leonsis told us that the D.C. Council's passage of a new crime bill was also a factor in his decision to stay in D.C., including to opportunity to have drug free zones declared around the arena.
