Posted on 12/13/2023 5:48:00 AM PST by FarCenter
RICHMOND, Va. (AP) — Virginia Gov. Glenn Youngkin has reached a tentative agreement with the parent company of the NBA’s Washington Wizards and NHL’s Washington Capitals to move those teams from the District of Columbia to what he called a new “visionary sports and entertainment venue” in northern Virginia.
The proposal, which would need the state legislature’s approval, calls for the creation of a $2 billion sports and entertainment district south of Washington in Alexandria, just miles from the existing arena, Youngkin said in an interview with The Associated Press ahead of a news conference planned at the site. It would include not only an arena for the basketball and hockey teams but also a new Wizards practice facility, a separate performing arts center, a media studio, new hotels, a convention center, housing and shopping, he said.
“The Commonwealth will now be home to two professional sports teams, a new corporate headquarters, and over 30,000 new jobs – this is monumental,” Youngkin said in a statement.
To help finance the project, Younkin will ask the Virginia General Assembly in the 2024 session to approve the creation of a Virginia Sports and Entertainment Authority, a public entity with the ability to issue bonds. Those bonds would be repaid partly by tax revenues from the project, according to Youngkin and additional details provided by his office.
(Excerpt) Read more at nbc4i.com ...
How much are the taxpayers on the hook for this?
When I was in DC last year, I casually walked by the Capital One Arena. I am a little surprised that this place is only a little over 25 years old and now likely considered obsolete, as my memories go back to watching Capitals games from the Cap Center in Landover when they had guys like Rod Langway, Mike Gartner, Scott Stevens, Pat Riggin, Larry Murphy, and others from the 1980s era.
Yes because what people need is more public funds being siphoned to build stadium playpens for millionaore players and billionaire owners. Meanwhile govt will be targeting millions more small americans on their taxes and govt will continue helping raise the cost of living for average citizen to yet new record levels, while handing out money and free housing to illegals.
Fine, they can do a remod on some things to freshen certain areas like the food areas.
And now the Mavericks want a new arena.
Games and circuses are needed to pacify the masses
And Nashville is building a new stadium for the Titans and many people there are apparently not amused over that.
Capital One Arena appears to be in an undesirable location, too close to the government center of DC.
OTOH, I’m not sure whether the Potomac Yards are much more accessible.
There is so much money in the counties surrounding DC the state should not have to put any money into this sports complex.
My view is that taxpayers should not be taxed for these stadiums that mainly only profit private entities.
What these publicly financed stadiums are, is subsidies to private companies.
These stadiums directly lead to the ludicrous salaries paid to professional sports players.
If these teams financed their own venues the Los Angeles Dodgers could not afford the deal they just signed to keep Shohei Ohtani for $1 billion.
I have been to many Caps games at the Verizon Center / Capital One Arena. It is a very nice facility and head-and-shoulders above the old Capital Center which was truly a dump. I think this has more to do with moving out of DC which is problematic and over the river to where there’s a lot more money.
Thanks, I was wondering if there were people here who could give their thoughts on the place in Landover versus the one being used today. Believe there is a shopping center now at the old location in Landover.
Yea! More billionaire socialism. From each according to how much he can’t hide from the taxman, to each according to his political pull.
I saw lot of concerts at the Capital Center - the Allman Brothers, Led Zeppelin, and the Grateful Dead to name a few. Never liked that location. The Verizon Center was much easier to reach. literally right above the Metro Station. But I believe a lot of this has to do with the deterioration of The District specifically with respect to crime.
The last time I went to FedEx Field which is across the beltway from Landover was 2003. The Washington football team is also talking about moving to Northern Virginia. There is a world of difference between the Virginia side of The District and the Maryland side.
Living here in northern Virginia, I’m not so hot about spending taxpayer money on a project like this, and I’m sure many of the libs here aren’t either, so this isn’t a done deal.
The people who will make money are those who will build around the Amazon Center. Also, the team owners will be happier, having a new facility that won’t require the fans to roam Chinatown at 11 pm after games, which will improve attendance.
The muggers on the VA side wear better sneakers than those from MD.
It's a two hole shitter, it's just a matter of degree...but in VA, just outside the district, the muggee is allowed to carry and there fore has more protection.
Distraction and redirection to things that in reality, mean nothing
Things are getting hot in Asia. We get into shooting naval war with an “Asian Power” I think there is a lamp post with your name on it.
That post was for Bert an not you. Sorry.
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