Leonsis looking to move Capitals and Wizard to Virginia (upd: VA deal seemingly dead, new DC deal in the works)

[LadyStanley]

Friedman's take

 

[LadyStanley]

 

[No Fun Shogun]

In other words, the secret deal forged by Leonsis and Youngkin unsurprisingly lacked sufficient state and local suppor to become a reality.

 

[hockeykicker]

and leonsis gets what he wants from dc after all.

 

[ponder719]

Good.

 

[No Fun Shogun]

and leonsis gets what he wants from dc after all.

Ah, so instead Leonsis used Youngkin to get what he wanted out of DC. Crafty then.

 

[hockeykicker]

 

[Blackhawkswincup]

Should be noted "If Approved by DC Council" part

This still isn't slamdunk

But it appears he got DC Mayor and her team to cave to his demands

 

[eojsmada]

Sad that Virginia's "legistlature" couldn't get past partisanship to get the deal approved. But at least the Caps have room to expand and can hopefully upgrade the area a bit better for the fans.

 

[93LEAFS]

I get how smaller cities get bullied into public financing, but why is a metro region the size of the DMV caving to billionaire owners. No owner is actually going to move the Capitals or the Wizards to another market. It's way too valuable.

 

[BKIslandersFan]

I get how smaller cities get bullied into public financing, but why is a metro region the size of the DMV caving to billionaire owners. No owner is actually going to move the Capitals or the Wizards to another market. It's way too valuable.

Have to keep in mind municipalities are competing against each other.

Even though for fans, it might not matter if Caps play in DC or DC suburbs all that much, it does to politicians.

 

[LadyStanley]

 

[nickp91]

Thank goodness that’s over

 

[93LEAFS]

Have to keep in mind municipalities are competing against each other.

Even though for fans, it might not matter if Caps play in DC or DC suburbs all that much, it does to politicians.

I get the dynamics that cause it. I just wish more regions grew a backbone. I'm glad the Leafs/Raps arena was privately financed after the disaster of the Skydome.

 

[BKIslandersFan]

I get the dynamics that cause it. I just wish more regions grew a backbone. I'm glad the Leafs/Raps arena was privately financed after the disaster of the Skydome.

Agreed. Its pathetic. I am happy we were lucky enough to get owners who privately financed UBS Arena.

 

[oknazevad]

Ah, so instead Leonsis used Youngkin to get what he wanted out of DC. Crafty then.

He already had that in hand, though. Bowser had agreed to basically these same terms before the Alexandria announcement (see this WaPo story). I think he just got lured by "shiny and all new" more than anything.

 

[CharasLazyWrister]

I’ll never get used to the fact that rich private citizens bullying and extorting the public for their own private gain is a normal practice. It’s so common at this point that it barely seems like anyone cares.

 

[CharasLazyWrister]

Have you met our government?

At this point, it goes beyond that.

The mega ownership class actually have much of the citizenry believing these things are to the public’s benefit. I had someone telling me that the economic “multiplier effect” means that for every job created by a public financing package, there’s 30 other ones created. Basically, we should just be pumping owners full of fat, low-interest loans.

You give me $300 million at 3% interest, I could repay it too. I may even buy a few pieces of property and “create” a few jobs along my way to exorbitant personal wealth. But of course, that would be insane.

And not to completely absolve elected politicians themselves, but they are the ones that get blamed if and when a franchise leaves town. They don’t really have good options.

 

[John Price]

dumb plan to move from the start

 

[willy702]

I don't really see what Ted won here. This situation played out in a way where the real truth underlying all this didn't get discussed or revealed. In almost every one of these situations the motivation is to essentially change the fanbase and spending patterns in the arena. For lack of a better way to put it, this is very much class conflict. The ownership when getting a shiny new building is hoping they can cut out the lowest spending patrons at their old place and replace them with higher spending patrons. The highest spending patrons consume differently than lower spending, not just in seats but in every facet of their budgets. They spend more for parking, more for pregame activities, more in house food and beverage, more on the seats, and more on merchandise. Taking out 20% at the bottom and moving in 20% at the top is hugely profitable.

I think this reality is why its not working as well in Canada. There the fanbase isn't as likely to turn over, there isn't some wealthy class that didn't care much about attending hockey games that will only if you build a nicer building. There was in Toronto, Vancouver and Montreal way back in time when they moved, and Edmonton has seen that pickup at Rogers, but those buildings were more about adding seats and premium seats at that. The attending fanbase didn't change. In DC and say Phoenix however, its a huge difference in what you can attract and where you put the arena is very important.

 

[madhi19]

I don't really see what Ted won here. This situation played out in a way where the real truth underlying all this didn't get discussed or revealed. In almost every one of these situations the motivation is to essentially change the fanbase and spending patterns in the arena. For lack of a better way to put it, this is very much class conflict. The ownership when getting a shiny new building is hoping they can cut out the lowest spending patrons at their old place and replace them with higher spending patrons. The highest spending patrons consume differently than lower spending, not just in seats but in every facet of their budgets. They spend more for parking, more for pregame activities, more in house food and beverage, more on the seats, and more on merchandise. Taking out 20% at the bottom and moving in 20% at the top is hugely profitable.

I think this reality is why its not working as well in Canada. There the fanbase isn't as likely to turn over, there isn't some wealthy class that didn't care much about attending hockey games that will only if you build a nicer building. There was in Toronto, Vancouver and Montreal way back in time when they moved, and Edmonton has seen that pickup at Rogers, but those buildings were more about adding seats and premium seats at that. The attending fanbase didn't change. In DC and say Phoenix however, its a huge difference in what you can attract and where you put the arena is very important.

But hockey is so inclusive! loll Gentrifying the fanbase, I been thinking about that angle for a bit. The Leafs and the Habs are doing it to some extend just by charging an arm, and a leg for tickets.

 

[Major4Boarding]

Let's re-work the political discussions into a business centric format, rather than lobbing eggs across the aisle(s)

Thank you!