Washington Wizards and Washington Capitals owner Ted Leonsis, the CEO of Monumental Sports and Entertainment, is preparing to move his NBA and NHL franchises to a proposed new arena complex and entertainment district in Northern Virginia, sources told ESPN on Tuesday.
The plan, expected to be unveiled at a news conference with Virginia Gov. Glenn Youngkin on Wednesday morning in Alexandria, would be for the two teams to move to a massive new development in Alexandria’s Potomac Yard neighborhood, sources said.
Virginia State lawmakers voted on Monday to approve the arena project in Northern Virginia, the Washington Post reported. A final vote of the state’s full general assembly is needed to pass the project that would create an 8,000-square foot campus site in Alexandria.