Washington Capitals and Wizards to Remain in D.C.

Washington D.C.’s Mayor Muriel Bowser and Ted Leonsis, owner of the NBA’s Wizards and NHL’s Capitals, have reached a $515 million agreement ensuring both teams stay in the capital through 2050. The deal includes a 200,000 square foot expansion of the current arena and the creation of an entertainment district in Chinatown, aiming to boost safety and transportation. This development comes as a setback to Virginia Governor Glenn Youngkin, who had proposed relocating the teams. The failed Virginia project involved a $2 billion development plan, thwarted by political disagreements and financial concerns. The agreement with Washington is hailed for its potential positive impact on the city’s economy and community spirit.

Source: ESPN