On the same day that Alexandria Mayor Justin Wilson announced that the Washington Wizards and Capitals wouldn’t be moving to Potomac Yard, Jonathan O’Connell, Teo Armus, Gregory S. Schneider and Michael Brice-Saddler of The Washington Post reported that Monumental Sports & Entertainment agreed to keep the Washington Wizards and Capitals at Capital One Arena through 2050 with the D.c. government. The deal still requires the approval of the city council, but should be expected to pass.
As a part of the deal, the D.C. government agreed to spend $515 million over three years to modernize Capital One Arena and improve on public safety, such as more police officers.