ALEXANDRIA, VA – In a significant development for sports and entertainment in the region, the Washington Capitals and the Washington Wizards are set to move to Alexandria’s Potomac Yard neighborhood. The Alexandria Economic Development Partnership (AEDP) confirmed this major relocation ahead of a formal announcement by Virginia Governor Glenn Youngkin and Ted Leonsis, Chairman and CEO of Monumental Sports & Entertainment.
The Washington Post initially reported the news, highlighting the unanimous approval by Virginia’s Major Economic Investment Project Approval Commission for a project resembling a mini-city. This complex, adjacent to the Virginia Tech Innovation Campus in National Landing, includes a sports center, a music venue, and a hotel.
Governor Youngkin expressed his enthusiasm about the project, stating, “After many years of dreaming, many years of discussion, I’m pleased to announce that right here, in Alexandria’s Potomac Yard, we have a plan to unleash a brighter, more extraordinary future.”
The project, valued at approximately $2 billion, aims to create a spectacular sports and entertainment district.
Ted Leonsis described the move to Virginia as a “transformative step forward,” marking a new chapter for the Capitals and the Wizards. The relocation to Potomac Yard signifies a major shift in the sports landscape of the region, promising to bring renewed energy and investment to Alexandria.
The two teams currently play at Capital One Arena, located in the heart of the nation’s capitol.