The City of Alexandria, Va. ended negotiations to bring the Washington Capitals and Washington Wizards to the city due to failed incentive plans.
Washington Wizards and D.C. Mayor finalized a deal to keep the teams at Capital One Arena until 2050 with a $515 million modernization plan.
Initial plans for a new home for both teams in Alexandria as part of a $2.2 billion project have been scrapped.
The city expressed disappointment in the failed negotiations and will continue to seek economic opportunities.
City of Alexandria Ends Negotiations for NHL’s Capitals and NBA’s Wizards Relocation
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The City of Alexandria, Virginia, revealed that discussions to entice the NHL’s Washington Capitals and the NBA’s Washington Wizards to move to the city have ceased. This decision came after Governor Glenn Youngkin’s incentive package to attract the teams was rejected by state lawmakers, leading to the discontinuation of the proposal for a new arena to house both teams.
Following Alexandria’s announcement, reports emerged of a deal between the Washington Wizards and D.C. Mayor Muriel E. Bowser to maintain the teams at the Capital One Arena in Washington until 2050. The agreement includes a $515 million allocation for upgrading the existing arena.
Previously, there were talks of relocating both teams to a new facility in Alexandria as part of a broader $2.2 billion mixed-use development plan. However, these plans have now been abandoned.
The City of Alexandria expressed regret over the failed negotiations in a statement, emphasizing their commitment to pursuing economic prospects that enhance the community’s well-being and financial stability.
Governor Youngkin attributed the collapse of the Alexandria project to personal and political motives influencing the decision-making process.
