Talks on luring NHL’s Capitals and NBA’s Wizards to Virginia are over, city of Alexandria says

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Ted Leonsis

WASHINGTON — Negotiations aimed at luring the NHL’s Washington Capitals and the NBA’s Washington Wizards to northern Virginia have “ended” and the proposal to create a development district with a new arena for the teams “will not move forward,” the city of Alexandria said.

Virginia’s House speaker also confirmed he was told that Ted Leonsis, majority owner of the teams, is no longer considering a deal to relocate them from the District of Columbia.

House Speaker Don Scott told The Associated Press he received that news from Justin Wilson, the mayor of Alexandria, where Republican Gov. Glenn Youngkin had hoped to land the teams.

The city said in a statement posted to its website that it was disappointed in the outcome. The development came after an incentive plan offered by Youngkin failed to gain traction in the Democratic-controlled General Assembly.

“We negotiated a framework for this opportunity in good faith and participated in the process in Richmond in a way that preserved our integrity. We trusted this process and are disappointed in what occurred between the Governor and General Assembly,” the city’s statement said.

Monumental Sports and Entertainment, the teams’ parent company, and the District of Columbia are close to signing a letter of intent for a $515 million renovation of Capital One Arena, their current home, that will keep the Capitals and Wizards in the city for the long term, according to a letter from Leonsis to employees that was obtained by AP.

Daniel Gleick, a spokesman for D.C. Mayor Muriel Bowser, said he had no information he could share “at this time.” A spokeswoman for Monumental didn’t respond to a request for comment.

Youngkin expressed disappointment and frustration over the demise of a plan he said would have created $12 billion in economic investment.

“This should have been our deal and our opportunity,” the governor said in a statement. He added: “But no, personal and political agendas drove away a deal with no upfront general fund money and no tax increases, that created tens of thousands of new jobs and billions in revenue for…

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Source link : https://sports.yahoo.com/talks-luring-nhl-capitals-nba-212941677.html

Author : NBC Sports

Publish date : 2024-03-27 21:29:41

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