Developer Behind Fairfax Casino Effort Tried to Woo Ted Leonsis With Arena
Billionaire Ted Leonsis was not persuaded to back the failed attempt to bring a commercial casino to Fairfax County, Virginia, in the Tysons region by the real estate development company sponsoring the project. The owner of the NHL Capitals and NBA Wizards was also offered a new arena as part of the canceled offer.
Using public funds, Leonsis and Virginia Governor Glenn Youngkin (R) are advocating for the transfer of the billionaire's professional sports teams—including the WNBA Washington Mystics—from their current location in Washington, D.C. to Potomac Yard in Alexandria, which is approximately five miles south. The locals are deeply opposed to the idea. However, many political watchers think that Youngkin is pushing ahead with the Republican effort to establish a legacy development.
Comstock Companies and Senate Majority Leader Scott Surovell (D-Fairfax) made an offer to Leonsis' Monumental Sports & Entertainment for a sports arena to be included in the Tysons casino pitch, according to a story published in The Washington Post over the weekend.
"Comstock Companies and Senate Majority Leader Scott Surovell (D-Fairfax) made an offer to Leonsis' Monumental Sports & Entertainment for a sports arena to be included in the Tysons casino pitch, according to a story published in The Washington Post over the weekend.
Just south of Reagan International Airport is where the Potomac Yard Entertainment District is intended. A multipurpose professional sports arena, practice facilities, a performing arts complex, and a media studio for Leonsis' Monumental Sports Network are all part of the $2 billion project.
DC in lieu of Alexandria
Leonsis is prepared to move to Potomac Yard instead of the nation's capital and his Capital One Arena. Youngkin is dedicated to assisting Monumental Sports & Entertainment, owned by Leonsis, in constructing a world-class facility.
City officials in Washington, D.C. are still frantically trying to come up with money to renovate Capital One Arena, a downtown location directly east of the White House. The property beneath the building belongs to the city, although Leonsis owns the structure itself.
District officials, including Democratic Mayor Muriel Bowser, made an impromptu $500 million offer for facilities improvements in December. However, Leonsis was unable to give up on Potomac Yard.
Alexandria, a prosperous autonomous city, is largely against the initiative. Citations are made for the impact on the environment, financial obligations, and additional traffic in the already crowded neighborhood. "Stop the Arena," an organization opposed to the project, asserts that taxpayer funds shouldn't be utilized to "heavily subsidize a billionaire."
Deal Breaker for Casinos
The Post was informed by Monica Dixon, Monumental's president of external affairs, that Comstock and Surovell had been contacted regarding the possibility of constructing an arena in Tysons next to a casino resort. It was a nonstarter, she said.
"At no time, have we ever or would we ever consider operating alongside a casino, period,” Dixon said. “Our proposal in Alexandria at Potomac Yard provides our fans, players, employees, and the people of this region the best opportunity for winning teams and a great economic impact. While we are disappointed in how this has played out, we hope our proposal will get a fair hearing.”
The $2 billion Potomac Yard project was not included in the budget for the 2024–2026 biennium that the Virginia General Assembly enacted last week. In order to complete the budget plan, Youngkin is anticipated to hold a special session in which the Potomac Yard proposal is probably going to be given more thought.