Monumental Sports & Entertainment CEO Ted Leonsis appears to be expanding his options
Monumental Sports & Entertainment CEO Ted Leonsis had preliminary discussions with Maryland Governor Wes Moore about an arena project after the Va. General Assembly didn’t include it in its budget, according to Andy Kostka and Pamela Wood of the Baltimore Banner.
As we have written previously, the arena project is NOT dead. It won’t be dead until Monumental officially decides to keep the Washington Wizards and Capitals at Capital One Arena, their current home.
However, for ultrawealthy business owners like Leonsis, it is difficult to see them give up when a coveted project hits its first roadblock. So I’m not surprised to see Leonsis get into discussions with the Maryland governor.
Unlike Virginia, Maryland already is home to multiple professional sports teams. The Washington Commanders play in Prince George’s County, though their headquarters is in Loudoun County, Va. The Baltimore Orioles and Ravens play at Camden Yards, near Inner Harbor. While the Commanders play in a privately owned stadium, the Orioles and Ravens play in state-owned facilities.
Maryland was also the home of the Wizards and Capitals before they moved to Capital One Arena. And when Monumental began “Project Potter,” Prince George’s County was the first local jurisdiction to propose a site.
I still think that Monumental would prefer Alexandria as their home. But I can also see why they would be talking to Maryland. First, many Wizards and Capitals fans live there. Second, the state has a track record for funding stadiums. And third, if nothing else, this provides Monumental an opportunity for Maryland to put a package that is more attractive than the D.C. government’s $500 million offer to renovate Capital One Arena.
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