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Mayor, professional sports clubs owner form team to launch major real estate project

Washington, D.C. officials join Leonsis to celebrate start of Capital One Arena refurbishment
Washington, D.C., Mayor Muriel Bowser, left, and Monumental Sports & Entertainment CEO Ted Leonsis address the press during this week's ceremonial start of construction to update Capital One Arena. (Jonathan Lehrfeld/CoStar News)
Washington, D.C., Mayor Muriel Bowser, left, and Monumental Sports & Entertainment CEO Ted Leonsis address the press during this week's ceremonial start of construction to update Capital One Arena. (Jonathan Lehrfeld/CoStar News)
CoStar News
December 20, 2024 | 5:35 P.M.

Washington, D.C.’s top elected local official and a major sports mogul have become teammates as Capital One Arena, a major sports complex in the city, gets refurbished.

D.C. Mayor Muriel Bowser jested that she and Ted Leonsis, CEO of Monumental Sports & Entertainment, would be together for “a long time” after a deal was reached to keep the sports teams his group owns in D.C. She made the quip at this week's ceremonial groundbreaking for the $515 million project to update the arena.

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3 Min Read
December 19, 2024 05:46 PM
The refurbishment is part of the deal that kept Washington's pro basketball and hockey teams in the city.

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Monumental had at one point considered moving the city’s professional basketball and hockey teams to Virginia, but the deal fell through and the city of Washington struck a deal with Leonsis to keep them in the District.

“The new Capital One Arena will be an epic focal point for the community and a symbol for the resurgence of downtown,” Leonsis said in a statement.

Renovation work at the arena is expected to be completed by the 2027-2028 NBA and NHL seasons.

IN THIS ARTICLE


  • Properties
  • Contacts
    • Ted Leonsis

      Founder, Chairman, Majority Owner, CEO, Monumental Sports & Entertainment