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☆ With Washington Capitals, Wizards move to Virginia, owner Ted Leonsis pursues his vision of a $10 billion sports empire around Washington, D.C.
▼ + stars: | 2023-12-14 | by ( Ian Thomas | ) www.cnbc.com time to read: +8 min

Glenn Youngkin (L) looks on during the announcement of a new sports arena for the Washington Wizards NBA basketball team and Washington Capitals NHL hockey team, on December 13, 2023 Virginia. Win Mcnamee | Getty Images News | Getty ImagesTed Leonsis, the owner of the NBA's Washington Wizards and the NHL's Washington Capitals, has a grand vision for growing a regional sports empire. Glenn Youngkin announced that the Capitals and Wizards have agreed to move to a new arena in Alexandria, Virginia, as part of a $2 billion entertainment complex in 2028. How will they compete with big market teams? "We could have a billion-and-a-half-dollar revenue run rate and a $10 billion to $15 billion trend of valuation," Leonsis said.

Persons: Ted Leonsis, Glenn Youngkin, Win Mcnamee, Leonsis, we'll, aren't, I'm, it's, It's, David Rubenstein, David Blitzer, Blackstone, James Dolan, Stan Kroenke, Kroenke, I've Organizations: Monumental Sports, Entertainment, Virginia Gov, Washington Wizards NBA, Washington Capitals NHL, Getty, Washington Wizards, NHL's Washington Capitals, CNBC, Summit, Washington , D.C, AOL, Capitals, Wizards, Washington Mystics, Capital, D.C, Sports, Mystics, NHL, Baltimore Orioles, Washington Nationals, MLB, Carlyle Group, Bloomberg, Orioles, Red Sox, Fenway Sports Group, Boston Red Sox, Pittsburgh Penguins, Premier League's Liverpool, Philadelphia 76ers, New, New Jersey Devils, Washington, Cleveland Guardians, MSG, Sphere Entertainment, Madison Square Garden Entertainment, New York Knicks, Rangers, MSG Networks, Atlanta Braves Holdings, Liberty Media, Sports & Entertainment, Nuggets, Avalanche, Los Angeles Rams, Premier League's Arsenal FC, Qatar Investment Authority, MSG Sports, NHL's Rangers, NBA's Knicks, Phoenix Suns, NBA, Ottawa Senators, Braves Locations: Virginia, Alexandria , Virginia, Washington ,, Washington, London, Richmond, Delaware, New Jersey, Real Salt Lake, Denver, MLS's Rapids, Colorado, Monumental

☆ Washington sports teams Capitals, Wizards to move to new Virginia complex in 2028
▼ + stars: | 2023-12-13 | by ( Drew Richardson | ) www.cnbc.com time to read: +1 min

watch nowThe National Hockey League's Washington Capitals and the National Basketball Association's Washington Wizards are slated to move to Alexandria, Virginia, as part of a $2 billion entertainment complex effort, the state's Gov. The development, about 8 miles south of Washington, D.C., will house the new global headquarters for Monumental Sports & Entertainment, which owns the Capitals and Wizards, as well as the new home arena for the teams. Glenn Youngkin answers questions following the announcement of a new sports arena for the Washington Wizards NBA basketball team and Washington Capitals NHL hockey team, December 13, 2023 in Alexandria, Virginia. Win Mcnamee | Getty Images News | Getty Images"This is the most visionary sports and entertainment development in the world. Legislators will have to greenlight the creation of the complex in the next Virginia General Assembly session.

Persons: Glenn Youngkin, Win Mcnamee, Youngkin Organizations: Hockey League's Washington Capitals, National Basketball, Washington Wizards, Washington , D.C, Monumental Sports & Entertainment, Capitals, Wizards, Virginia Gov, Washington Wizards NBA, Washington Capitals NHL, Getty, Virginia General Locations: Alexandria , Virginia, Washington ,, Commonwealth, Virginia

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