DC Council approves $515M to buy and renovate Capital One Arena, securing teams until 2050.

The DC Council has approved a $515 million investment to buy and renovate Capital One Arena, with Monumental Sports & Entertainment contributing at least $285 million. This ensures the Washington Capitals and Wizards stay in downtown DC until at least 2050. The project aims to create nearly 5,000 jobs and generate $21 million in new tax revenue over three years. The council also approved funding for upgrades to the Nationals' stadium.

November 27, 2024
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