Wizards And Capitals Should Stay In Washington

Let's get all of this out of the way before I start the point of this post. I live in Northern Virginia but not in Alexandria or particularly close to the proposed Potomac Yard site for a new arena for the Washington Capitals and Wizards. I've attended concerts, Wizards, Caps, and Georgetown basketball games over the 20+ years I've lived in the DC area, but I haven't been to the Capital One Arena in Washington since the pandemic started. So although the recent announcement about the Wizards and Caps moving from DC to Alexandria doesn't really impact me, why does it bother me so much?

By all accounts, the Gallery Place/Chinatown area of DC was completely revitalized by the building of the Capital One Arena (previously the MCI Center and Verizon Center) in the late 1990s. Between home games for the Wizards and Caps along with Georgetown basketball games, concerts, monster truck shows, etc., there are probably about 150 events at the arena each year. Taking away the Wizards and Caps will be absolutely devastating to the businesses in that neighborhood. Meanwhile, state and local taxpayers are going to be on the hook for $1.35 billion for the building of the new arena and entertainment complex in Alexandria, Virginia. This would be the largest public subsidy of a project of this kind. There is not currently adequate infrastructure in the Potomac Yard area, so we're talking about a significant investment needed in roads, though it's not clear if that's part of the $1.35 billion. In any event, I don't see how this is a good deal for Virginia residents. That's A LOT of money. And it's not like we're going to get free tickets or free parking. Ticket and parking prices aren't going to be cheap. Now all of this is a great deal for Caps and Wizards owner Ted Leonsis. This is a live look at Ted if this deal gets signed. 

The model for Potomac Yard is The Battery area in Cobb County, Georgia. The Atlanta Braves moved about 10 miles outside the city to an area with a new stadium and entertainment district. It's really nice. Several years after opening though, I'd love to know the economic impact on Atlanta, Cobb County, and the Atlanta Braves. Cobb County (and its taxpayers) put significant money into the area. Curious what the return on investment has been. Plus, what's the impact for the city of Atlanta and the area that housed Turner Field? (I don't remember there being much to do before or after a game outside Turner Field which differs from the area outside Capital One.)

To me, it just seems like the Wizards and Caps should play in Washington. Although Potomac Yard is only four miles from Capital One, it's a world away. 

Here are a few more videos about this potential move.