An NHL Team Is Officially Getting Relocated

The teams are anticipated to reveal their departure from Capital One Arena in downtown D.C. to a future arena in Northern Virginia.

NHL insiders, including Elliotte Friedman and Frank Seravalli, are currently delving into the intricacies of this substantial development. Abraham shares that Ted Leonsis, the owner of both the Capitals and the Wizards, is set to address the media alongside Virginia Governor Glen Youngkin at the prospective arena site.

The event, scheduled for 9 a.m. on Wednesday at Potomac Yard, is being described by an executive with Monumental Sports and Entertainment as "a framework for a partnership." Governor Youngkin dubs it "a remarkable economic development project for the Commonwealth."

Tents have already been erected at the event site as of Tuesday afternoon. Earlier this week, news broke that Leonsis was contemplating the relocation of both teams to Northern Virginia. Virginia lawmakers have given the green light to a proposal enticing the teams to a sprawling 8 million-square-foot sports and mixed-use complex in Alexandria, Va.

This approved sports district includes a new shared stadium for the Capitals and Wizards, a 3,000-seat music and entertainment venue, a conference center, hotels, and the headquarters for Monumental Sports & Entertainment, which oversees the two teams and the Washington Mystics. The Mystics and other events would remain in D.C.

Insiders reveal that while this vote propels the process forward, the full General Assembly and Alexandria City Council must still give their approval. If all goes according to plan, groundbreaking could commence in 2025, with the teams making the move in 2028.

The proposed sports district would be conveniently situated within walking distance of the upcoming Potomac Yard Metro station. As per sources, a Virginia stadium authority would own the arena, with Monumental Sports and Entertainment entering into a 40-year lease.