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Teams in Washington, Wizards and Capitals, agree to new deal to stay in D.C. after relocation to Virginia is canceled, report says

The Washington Capitals and the Washington Wizards will remain in Washington D.C. at the current home of Capital One Arena until 2050, after a proposal to bring them to Alexandria, Virginia fell through. Alexandria had been engaged in community engagement to inform negotiations and improve the proposal for the community, but were disappointed by the outcome. Despite this setback, Alexandria remains committed to pursuing economic opportunities that improve their quality of life and economic health.

Governor Glenn Youngkin blamed personal and political agendas for driving away the Alexandria project. The failure highlights the challenges of balancing economic development with political interests in such negotiations. Meanwhile, Ted Leonsis’ plans to move both teams to a new home in Alexandria as part of a $2.2 billion mixed-use development project were no longer feasible without incentives offered by Governor Youngkin which were blocked by lawmakers in the state’s General Assembly.

The Potomac Yard Entertainment District opportunity was seen as worth considering by the city of Alexandria, but unfortunately it did not move forward due to unforeseen circumstances. Nevertheless, they remain optimistic about future prospects for economic growth and are determined to continue exploring new opportunities that align with their vision for a vibrant and prosperous community.

By Samantha Jones

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