{"id":2373925,"date":"2024-11-27T12:21:01","date_gmt":"2024-11-27T17:21:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dc-pushes-plan-to-spend-515-million-to-buy-and-renovate-capital-one-arena-washington-examiner\/"},"modified":"2024-11-27T12:21:38","modified_gmt":"2024-11-27T17:21:38","slug":"dc-pushes-plan-to-spend-515-million-to-buy-and-renovate-capital-one-arena-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dc-pushes-plan-to-spend-515-million-to-buy-and-renovate-capital-one-arena-washington-examiner\/","title":{"rendered":"DC pushes plan to spend $515 million to buy and renovate Capital One Arena &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">34<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdc-pushes-plan-to-spend-515-million-to-buy-and-renovate-capital-one-arena-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2373925&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The District of Columbia Council has approved \u200ca\u200d proposal to invest $515 million in purchasing and renovating the\u200c Capital One Arena, located in downtown Washington, D.C. This initiative aims to ensure\u2063 that all <a href=\"https:\/\/amzn.to\/3YuVZYV\">local <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ice-bucket-challenge-activist-dies-age-37\/\" title=\"Ice Bucket Challenge Activist Dies Age 37\">sports teams<\/a> remain<\/a> within the city limits. \u2064The plan involves the district acquiring the\u2063 arena for $87.5 million and leasing it back to Monumental Sports &#038;\u2062 Entertainment (MSE),\u200c the owner of the Washington\u200c Capitals and Wizards,\u2062 until 2050. Alongside the district&#8217;s funding, \u200dMSE will contribute at least $285 million towards the renovations. The council passed\u200c this legislation, \u200bknown as the Downtown\u200c Arena Revitalization Act of 2024, in its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rust-charges-against-alec-baldwin-formally-dismissed\/\" title=\"&quot; Rust&quot; accusations against Alec Baldwin were fully dropped.\">initial reading<\/a>, and \u200dit still requires a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/you-have-a-rendezvous-with-destiny-mr-vice-president-on-january-6th-vice-president-pence-will-choose-the-direction-of-the-world-for-years-to-come-like-thomas-je\/\" title=\"\u201cYou Have a Rendezvous with Destiny, Mr. Vice President\u201d \u2013 On January 6th Vice President Pence Will Choose the Direction of the World for Years to Come \u2013 Like Thomas Jefferson Did Centuries Ago\">final vote<\/a>, Mayor \u200cMuriel Bowser&#8217;s endorsement, and congressional approval. \u200cMSE&#8217;s CEO, Ted Leonsis, expressed gratitude for the council&#8217;s support and enthusiasm for creating a premier destination for fans and \u2064the community.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">DC pushes plan to spend $515 million to buy and renovate Capital One Arena<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1895324\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>The <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/d-c-council\/\" target=\"_blank\" rel=\"noopener\" title=\"D.C. Council\">Council of the District of Columbia<\/a> voted in favor of legislation to revamp <a href=\"https:\/\/www.washingtonexaminer.com\/sports\/3197516\/dc-mayor-87-million-offer-buy-capital-one-arena-keep-teams-city\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Capital One Arena<\/a> in downtown <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/washington-dc\/\" target=\"_blank\" rel=\"noopener\" title=\"Washington, D.C.\">Washington, D.C.<\/a>, as the city looks to have all its sports teams within the district limits.<\/p>\n<div class=\"article-paywall\">\n<p>The legislation would have the district purchase the arena for $87.5 million and lease it back to Monumental Sports &amp; Entertainment, which owns the Washington Capitals and Wizards, through 2050, along with a renovation to the venue that would be funded by both the city and the ownership group. The district would provide a total of $515 million to purchase the venue and renovate it, while MSE would provide at least $285 million for renovations.<\/p>\n<p>The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hundreds-of-minneapolis-police-officers-left-after-getting-slammed-now-city-spending-millions-for-new-recruits\/\" title=\"Hundreds Of Minneapolis Police Officers Left After Getting Slammed. Now City Spending Millions For New Recruits.\">council voted unanimously<\/a> to pass the bill, titled the Downtown Arena Revitalization Act of 2024, through the first reading. To be enacted into law, the legislation will have to pass a final reading, review by D.C. Mayor Muriel Bowser, and congressional approval.<\/p>\n<p>&ldquo;We are grateful to the D.C. Council for their support of our plan to deliver a best-in-class destination for fans, athletes, employees, and our community at a brand-new Capital One Arena,&rdquo; MSE CEO Ted Leonsis <a href=\"https:\/\/x.com\/TedLeonsis\/status\/1861465444395479246\" target=\"_blank\" rel=\"noopener\" title=\"said\">said<\/a> in a post on X. <\/p>\n<p>&ldquo;We look forward to the final Council vote and thank [council chairman Phil Mendelson] and @MayorBowser for their leadership. We share in their vision and commitment to a revitalized downtown and sustained, long-term prosperity which reaches across each of The District&rsquo;s eight wards,&rdquo; he added.<\/p>\n<p>The council also approved legislation that would create a &ldquo;Ballpark Maintenance Fund&rdquo; for the Washington Nationals&rsquo;s ballpark in Navy Yard, allowing for improvements to the venue to secure the team remaining in D.C., alongside the NBA and NHL teams.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><\/strong><\/p>\n<p>D.C. is currently fighting with Maryland and Virginia over the future stadium for the Washington Commanders as they seek to vacate the aging Northwest Stadium in Landover, Maryland.<\/p>\n<p>The team played at RFK Stadium in D.C. from 1961 until 1996 before leaving for Maryland. The district moved one step closer to wooing the Commanders, with the Senate <a href=\"https:\/\/www.washingtonexaminer.com\/sports\/3235175\/senate-moves-give-dc-control-rfk-stadium-after-talks-about-commanders-logo\/\" target=\"_blank\" rel=\"noopener\" title=\"pushing\">pushing<\/a> forward legislation that would give the district control of the land where RFK Stadium is to possibly build a new stadium. The bill now must pass through the House and be signed by President Joe Biden before the new Congress convenes in January.<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1895324\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1895324\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>DC plans to invest $515 million to buy and upgrade Capital One Arena<\/p>\n","protected":false},"author":2638,"featured_media":2373926,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/06\/AP24087707051924.jpg.optimal.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[17418,45776,45775,21465,32076],"class_list":["post-2373925","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-dc","tag-515-million","tag-capital-one-arena","tag-renovation","tag-washington-examiner"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/06\/AP24087707051924.jpg.optimal.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2373925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2638"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2373925"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2373925\/revisions"}],"predecessor-version":[{"id":2373930,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2373925\/revisions\/2373930"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2373926"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2373925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2373925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2373925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}