The D.C. Council is contemplating the potential departure of the Washington Capitals and Wizards from the Capital One Arena as Monumental Sports explores alternatives. During a roundtable discussion, council members emphasized the need to prepare for the possibility of the teams relocating, given the changing economics of downtown D.C. post-pandemic. The area has witnessed business closures, increased remote work, and low population growth. The council aims to attract new businesses through competitive incentives and support existing real estate owners. One consideration is the idea of replacing Capital One Arena to revitalize the Chinatown area.
Despite Monumental’s expressed interest in continuing to use Capital One Arena for other events, the council is exploring various options, including the complete replacement of the arena. Acting Deputy Mayor Nina Albert highlighted Monumental’s current lease, which expires in 2047, with a provision allowing termination by 2027 upon bond payment, potentially incurring tens of millions in penalties if the teams relocate in 2028. While Monumental has discussed plans for the arena, they may not be permitted under the current lease.
Monumental has indicated its desire to attract other major events to Capital One Arena and make it the new home of the Washington Mystics. However, the council remains uncertain about Monumental’s plans and the fate of the Mystics’ current home, the Entertainment and Sports Arena, if the team relocates. A task force has been assembled to explore the future of sports in D.C., covering the needs of various teams, including the Nationals and the potential return of the Commanders to the district. The council acknowledges the complexity of the situation and plans to conduct additional roundtable discussions to address unanswered questions.