Confirmed with Link: Capitals to VA is dead. DC decides to pay $515 million dollars to upgrade capital one

[dreadpirateroberts]

 

[Edenjung]

Coyotes Fan coming in peace.

Personally i feel for every fan that now has a longer way to the games. If you guys can even make it (from what i learned, its only one line to the new location and its not part of a loop, so its a big bottleneck).
Overall i think this is a dick move by the owner. He wants to extort money. Nothing else.
Atleast our proposal was made in a way that the whole TED would have been paid privately, only part of the remediation for the landfil would have been funded by the City. And they have to do that anyway sooner rather than later.
I really hope that they get a public vote on this somehow and that he fails. Because this is just some BS.

Kindest regards.

 

[VaCaps Fan]

You good man, appreciate you stopping by.

 

[Edenjung]

@VaCaps Fan Thanks.
You hanging around our thread is always a pleasure so why not do the same.

When i heard about it i took some time to research the situation. And from what i got, its a big moneygrab. Might be good for VA Fans but for the rest its bad.
For what it is worth, i always hate owners that only look at the Money and not even a tiny bit at the fans.
Also me being from Europe, i hatte the whole moving concept

 

[Random schmoe]

(Replying initially to DPR's post of tweets.)

She needs to run those numbers vs ~4 years ago. I'm guessing that is where the dramatic difference is going to be. The changes haven't been sudden over the past year, they've been over the past 3 years.

Been working all day, had a chance to read a lot, but not say anything, so I'm brain dumping now.

1: To those commenting about lack of parking - I've seen it several times - note the plans include a 2,000 space lot under the arenas.

2: Mayor Bowser ... (from https://www.washingtonpost.com/dc-m...ental-sports-capitals-wizards-virginia-arena/)

While Bowser said she had been negotiating with Leonsis in good faith for months, the seemingly last-minute nature of the “best and final” offer caused critics to privately question whether she had moved with enough urgency as Virginia’s efforts to woo Leonsis ramped up.
She said at a news conference Wednesday that she had.
“We believe that we put all of the money that we could on the table when we could,” Bowser said, noting that D.C. was running up against its borrowing cap earlier this year, hamstringing negotiations. A shifting financial picture allowed D.C. to refinance some of its debt this fall, she said, creating an avenue to make Leonsis’s company, Monumental, a more attractive cash offer. “We were aggressive about it.”

...

Bowser and Mendelson appeared to ramp up their efforts as Wednesday’s announcement neared, privately laying out $500 million public financing offer on Sunday, money that would be borrowed over three years as part of the capital budget.

Meanwhile, the Virginia Economic Development Partnership vote was scheduled for (and conducted) on Monday. I'm guessing this Sunday offer was a last ditch thing when they got word of the VDEP vote. Too little too late. Ted was asking over the summer for policy, and from my observations that hasn't changed. Maybe if she had showed a little good faith by doing that in the meantime he would've been more willing to listen and be patient.

(from ‘We are still in the game’: Mayor Bowser says DC is holding out hope that Wizards, Caps will stay put - WTOP News)

While she emphasized the city’s focus is on downtown, which she called the “best location for the teams,” she left other “multi-acre sites” in D.C. open as possibilities.


“If they want a campus style, it may take a couple of years, but we would have RFK, and we would have the FBI,” the mayor said.

Uhh, someone needs to tell her at present the FBI is going to MD. (EDIT and yeah, I think i know what she means when she says 'RFK' ... but who wants to tell her that RFK Stadium technically doesn't exist anymore? And bringing the Commanders there is far from a done deal.)

From same:

Monumental has been in negotiations with the District for months, the mayor said. The city’s $500 million in the deal comes out of its capital budget, which pays for building and infrastructure by relying on borrowers — but there’s a debt cap in place.


Initially, the city was faced with caps that limited the amount of cash it was able to borrow. But recent interest rates and inflation numbers made for an improved refinancing report.


“That gave us room to put that kind of cash on the table,” Bowser said.

(psst, ms bowser, inflation hasn't changed much over the past few months, and the Federal funds interest rates having changed since July. I'm no economist... but it seems to me like the variables you cite haven't actually changed recently.)

Alright, I'm done with her.

3: Ted. I have mixed feelings. I actually don't like him. And haven't since he took a hardline stance during the last lockout. But I can't really blame him. At all. No doubt he has long been recognized for being ahead of the curve on 'tech'. The ideas of what he can do with his property .. it should be impressive.

Now, I hate public funds for billionaire's toys. And I hate it in this case too. I live in Virginia - 4.1 miles away from the arena. Luckily in Arlington, not Alexandria, so none of my taxes, etc should be directly affected. I know they're saying it will not have any impact on taxes or other ability to spend for Alexandria or Virginia, but, as Marcus Simon (Virginia House Democrat) said on X, "Trust but verify."

That said, I do appreciate that Ted is putting his own money into this, $403M per at least one source. Ironically, with DC's offer on Sunday he would have had to pay $300M towards the $800M renovation cost. So he's actually paying more for this.

Fairly interesting, but maybe has nothing to do with this, that Ted is widely thought of as a Democrat. Most of his political contributions over the years have been to Democrats. I think all of his National campaign contributions have been. But he contributes to Republicans AND Democrats at the state level. The last Virginia election, he actually contributed $10K (the max?) to both Youngkin and Terry McAuliffe's campaigns. (and he actually did it on the same day. Hedging his bets I guess.) Of note, he then contributed another $10K in January 2023 to Youngkin's PAC.

Like I said, may not mean anything. But I found it interesting. [For the record, I voted for McAuliffe, and am generally not a fan of Youngkin's politics.]

I lost track of numbers... 4? But anyway.
I saw somewhere today - can't find the source now - that $200M of the construction costs are in roadways and transportation improvements. Not sure what exactly you can build these days with that money ... but at least there is something accounting for it now.

Maybe lastly .. I reserve the right to post more later... I don't want them to leave downtown. It really is a perfect location for everyone. But I don't blame him. One bit. Even though I don't like the guy.

Oh and at the risk of a sidetracked thing of strong opinions ... I hate pot. Absolutely f'ing hate it. The smell, everything. People walk around downtown like it's totally legal to smoke it anywhere. It's not. It's still a criminal action to smoke weed in any public space. OK there. Sorry, I just deal with it every damned day, and can't walk down down 7th St next to the arena without getting overloaded by it, even at lunchtime. I've stopped frequenting those restaurants. Sorry again. Bye for now.

 

[NobodyBeatsTheWiz]

A 2000 space lot....assuming that lot is exclusively for arena usage, they think Metro and the surrounding area can accommodate the other 18,000 people, plus arena employees, plus players, staff, and families?

That seems pretty optimistic.

 

[dreadpirateroberts]

I’d be interested in seeing what the estimated metro vs. parking splits are for COA attendees

 

[zappa4ever]

Oh and at the risk of a sidetracked thing of strong opinions ... I hate pot. Absolutely f'ing hate it. The smell, everything. People walk around downtown like it's totally legal to smoke it anywhere. It's not. It's still a criminal action to smoke weed in any public space. OK there. Sorry, I just deal with it every damned day, and can't walk down down 7th St next to the arena without getting overloaded by it, even at lunchtime. I've stopped frequenting those restaurants. Sorry again. Bye for now.

I feel more strongly about Cigarette and Cigar smoke and have had to deal with that since a kid in the 70's... I make conscious choices to avoid them as much as possible, really sucks living in Tobacco Country for most of my life (at least it's not southern VA where they still smoke indoors just about everywhere); thankfully over the decades it's at least slightly less prevalent and more avoidable now

 

[senseimike]

Hey Caps fans, Sens fan here coming in peace! As someone unfamiliar with the DC area, I take it moving the Caps arena is not for the same reason as why the Braves moved way north of downtown Atlanta correct? Like I'm guessing for Caps fans, the $$ and fans are spread out, not all geographically concentrated near where the proposed new area is?

 

[CapitalsCupReality]

Hey Caps fans, Sens fan here coming in peace! As someone unfamiliar with the DC area, I take it moving the Caps arena is not for the same reason as why the Braves moved way north of downtown Atlanta correct? Like I'm guessing for Caps fans, the $$ and fans are spread out, not all geographically concentrated near where the proposed new area is?

For decades one side had the slightly closer location, recent 20+ it’s been in the middle, now it’s moving to the other side by 4+ miles. Yes…pretty spread out…Leonsis inherited a terrible arena deal, dealt with it this long, but probably sees this as something he can build and leave behind….and create more revenue….

 

[zappa4ever]

Hey Caps fans, Sens fan here coming in peace! As someone unfamiliar with the DC area, I take it moving the Caps arena is not for the same reason as why the Braves moved way north of downtown Atlanta correct? Like I'm guessing for Caps fans, the $$ and fans are spread out, not all geographically concentrated near where the proposed new area is?

Currently at intersection of Red/Yellow/Green (the National Mall is the long horizontal green rectangle just to the south

New arena would be 5th stop from bottom of Blue/Yellow lines west of river

So... still accessible but generally 15min more of a subway ride and almost guaranteed to have to switch lines to get there, maybe better location for 20% of the populace?
Not a huge move but current spot is very popular location IMO

 

[hockeykicker]

I mean its literally an extra 10 mins on the metro from gallery place to king street. its really not that bad guys

 

[Calicaps]

I mean its literally an extra 10 mins on the metro from gallery place to king street. its really not that bad guys

Right at the end of the runways tho. Woof.

 

[alphabetical]

I want to see what road upgrades are part of the development. They'll obviously have to put in a connection to the GW parkway from potomac yard, but they'll need to improve the traffic flow north from/south to the beltway through alexandria. That's been overdue for decades now.

 

[hockeykicker]

I want to see what road upgrades are part of the development. They'll obviously have to put in a connection to the GW parkway from potomac yard, but they'll need to improve the traffic flow north from/south to the beltway through alexandria. That's been overdue for decades now.

problem they going to have there is once you cross the woodrow wilson and then go right onto richmond highway is olde town and its not like they can expand the roads there. if you come from the north then you coming right past the airport on the gw parkway which you cant expand cause you have the river on one side and the metro rail on the other

basically imo its gonna be a metro only arena with some parking

 

[hockeykicker]

basically blue circle is the proposed arena, yellow circle would be land owned by monumental (which according to the info would have a wizards practice facility, monumental sports headquarters, monumental sports tv studio, and the plaza) and orange circle is virginia tech campus.

I just dont see any room for parking

 

[tycoonheart]

I mean its literally an extra 10 mins on the metro from gallery place to king street. its really not that bad guys

The idea of going to Potomac friggin Yards versus Chinatown DC is just... Bleh. I can get off at chinatown metro and walk around, find a bar or two, a place to eat at and head to the arena. It just isn't going to be the same.

 

[hockeykicker]

The idea of going to Potomac friggin Yards versus Chinatown DC is just... Bleh. I can get off at chinatown metro and walk around, find a bar or two, a place to eat at and head to the arena. It just isn't going to be the same.

fair point, will be interesting what restaurants/bars will go into the light blue section

 

[bacchist]

Not a fan of money-hungry m/billionaires, but at least Ted didn't pull an Abe.

[Steve] Mehlman . . . was a season ticket holder the first time the team sold out 10 games in a row.

That came in 1982. [T]he original streak, which Mehlman had a big hand in pulling off, symbolized the franchise’s failures. It only came about after original Caps owner Abe Pollin, in a time of crisis, announced a series of ultimatums for fans and the local business community.

Pollin’s demands: Prince George’s County must cut the amusement taxes the Caps paid by 95 percent; the rent the Caps paid to Capital Centre must be reduced by two-thirds (Pollin also owned the building, so, no surprise, this demand was met quickly); at least 7,500 season tickets must be sold; and the first 10 home games of the 1982-’83 season must be sellouts.

Patty Hearst’s kidnappers didn’t play harder ball than Pollin: If all of his demands weren’t met within 30 days, Pollin pledged again and again, he’d disband or move the Caps.

“He meant it,” says Mehlman. “Abe Pollin is a man of his word. But we couldn’t let that happen.”

Darker Times

"Nice hockey team I have here. It would be a shame if something happened to it."

 

[alphabetical]

View attachment 783079

basically blue circle is the proposed arena, yellow circle would be land owned by monumental (which according to the info would have a wizards practice facility, monumental sports headquarters, monumental sports tv studio, and the plaza) and orange circle is virginia tech campus.

I just dont see any room for parking

I thought they announced underground parking...

 

[Ovechkins Wodka]

I thought they announced underground parking...

How much is that going to cost? $50 a pop?

 

[DWGie26]

Been busy all day so just now getting to post. I think there are three things with this move;

1. DC (and Bowser) have not been good to Ted. Crime is up. The stadium deal sucks. DC just been taking advantage in the way DC does. Been corrupt since Marion Barry. Still corrupt with Bowser.

2. The OV era is coming to an end. A new identity to refresh is going to be needed. The timing works out perfectly with this move.

3. Ted has a chance to do something really special with this complex. Will be the first of its kind. Could be a blueprint for others.

In short, there are lots of good reasons for Ted to do this. There are downsides as well, but there is no such thing as a 100% decision.

 

[Ovechkins Wodka]

Currently at intersection of Red/Yellow/Green (the National Mall is the long horizontal green rectangle just to the south

New arena would be 5th stop from bottom of Blue/Yellow lines west of river

So... still accessible but generally 15min more of a subway ride and almost guaranteed to have to switch lines to get there, maybe better location for 20% of the populace?
Not a huge move but current spot is very popular location IMO


View attachment 783030

Noticed that the yellow line is in sync with the green line hopefully on game days they can make more trains going to Huntington and not branch Avenue. Might not even need to change trains

 

[Ovechkins Wodka]

How close is this to the practice facilities Kettler/MedSTAR or whatever they call it now. Virginia people I don’t know

 

[usiel]

How close is this to the practice facilities Kettler/MedSTAR or whatever they call it now. Virginia people I don’t know

14 minutes after midnight driving. About five miles. Would mean MedStar/Kettler would have technically more ice time for the public always something in high demand.

Haven't been down to CapOne since Covid so have don't have any real eyes on the whole downturn of that area from what I see bandied about. But I do remember the old 9:30 days on F street and going any farther east 9th street was flat out your are going to get robbed or worse it was that sketchy. To see Abe bring in the area and revitalize was pretty amazing.

That said things change in life. Would be pretty cool for VA to actually get two of the local pro teams.