Wizards’ owner Ted Leonsis plans to move in Alexandria, Virginia

Ted Leonsis, owner of the Washington Wizards and Washington Capitals, plans to move these NBA and NHL teams to a new arena complex in Alexandria, Virginia. The project involves developing an 8,000,000-square-foot campus in Alexandria’s Potomac Yard neighborhood. The Virginia state lawmakers have approved the project, and the teams could start playing there by 2028. Currently, they play at Capital One Arena in Washington, D.C. Washington Mayor Muriel Bowser proposed a $500 million renovation of Capital One Arena to keep the teams in D.C. Leonsis has the option to exit the Capital One Arena lease in 2027.