All articles tagged with #arena project
Timothy Leiweke, CEO of Oak View Group, was indicted for conspiring to rig the bidding process for a public university arena in Austin, Texas, by colluding with a competitor to ensure his company won the contract, resulting in penalties and potential prison time if convicted.
The Arizona Coyotes are set to relocate to Salt Lake City, but owner Alex Meruelo plans to maintain the team's name, logos, and trademarks while pursuing a $3 billion arena and entertainment project in North Phoenix with hopes of resurrecting the franchise in the future. The current team will be sold, rebranded, and relocated to Salt Lake City for the 2024-25 season, with Meruelo receiving $1 billion from the sale and retaining ownership of the AHL's Tucson Roadrunners. The team's last game in Arizona will be played at Arizona State University, and negotiations are underway to move the Roadrunners from Tucson to replace the Coyotes at their current arena.
The NBA's Washington Wizards and NHL's Washington Capitals have reached a $515 million agreement with the District of Columbia to stay in the city through 2050, including an expansion of the arena complex, creation of an entertainment district, and safety and transportation upgrades. The deal comes after talks for a new arena in Virginia ended, with Virginia officials expressing disappointment and frustration. The agreement is expected to be passed by the District of Columbia's Council next week.
State Sen. L. Louise Lucas's opposition to the $1.5 billion public debt for the proposed Wizards and Capitals arena in Virginia has left the project hanging by a thread, dealing a blow to Gov. Glenn Youngkin's economic development plans. Lucas, chairwoman of the Senate Finance and Appropriations Committee, views the project as a risk to the state's finances and a test of the newly ascendant Black lawmakers' leadership. Despite Youngkin's efforts, the arena is not included in the approved budget, and its failure so far reflects a struggle between the governor's office and legislative leaders.