Virginia Lawmakers Approve Plan to Relocate Capitals and Wizards, Potomac Yard Stadium in the Works

A panel of Virginia lawmakers has approved a plan that could bring the Washington Wizards and Capitals teams, owned by Monumental Sports & Entertainment, from D.C. to a new complex in Alexandria. The proposed 8 million-square-foot campus in Potomac Yard would include a stadium for both teams, a concert venue, and more. The plan still requires additional approval from the state's General Assembly and the Alexandria City Council. If approved, it would be a blow to D.C.'s downtown economy, which has already been suffering. Talks about the potential move began in June, and Monumental later asked D.C. officials for $600 million in public funding for a renovation plan.