Wizards and Caps could be moving to Potomac Yard

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Ted, you may not feel you are abandoning DC, but your DC and MD fans feel you are abandoning us. So if that is how you feel, your teams can play to empty arenas between now and when you have another venue in 2028/2029.

Have fun.

In reality, Ted is abandoning DC. Capital One supposedly hosts 200 events a year. Assuming each event draws on average 10,000 fans, that is 2+ million fans filtering through Capital One and Chinatown a year. There is no way that Ted can replace that number without the 80+ Caps/Wizards games. Moreover, does Ted really plan to keep the remaining 120 events a year at Capital One, even though he would own a brand shiny new entertainment district "only" a few miles away? Skeptic here. Is Ted willing to guarantee, with financial backup, that Capital One will continue to host 2+ million guests a year. Skeptic here. Further, we also know that new entertainment facilities do not increase the overall entertainment expenditures, as the new facilities simply divert entertainment dollars from X venue to Y venue. Do we really think that DMV and the "close" suburbs really need another entertainment facility? In fact, whatever entertainment venue that he might build in PY will only draw events from other DMV venues. Skeptic here. Finally, does he really think that a season ticket holder to 20-40 Caps/Wizards games a year is interested in (or has time for) nearby restaurants. This sports fan eats at the park, whether in a suite or downstairs. Generally not interested in nearby restaurants.

By the time PY is built, Ted will no longer have the ground lease under the CapOne Arena. He will need to either (1) negotiate a new $$$$ ground lease with the DC government or (2) sell the stadium structure at a big discount to another entity that will sign a new ground lease with DC government. The value is in the land, not the arena; especially if PY actually gets built.

The fact that neither the NHL or NBA would let him take the franchises out of DC makes me more certain than ever that Ted is angling to sell Monumental to someone else and trying to use the PY deal to gain leverage/add value to the company. Ted is old, his heirs don't want to run it.

The fact of the matter is that the Wizards just started a complete tear down and rebuild while the Caps will be doing the same in two years. Both fan bases are going to have to be rebuilt anyway. The timeline for the new arena syncs up with the timeline of the teams' potential relevence.

As for the ground lease, he seemed to think that he'd be able to scam money from DC for the Mystics. I think the outcry has put a stop to that but without that I wouldn't have put it past Bowser et al to have fallen for the grift.

But it doesn't matter, the arena is fully depreciated and Monumental also owns the local Ticketmaster franchise. He makes money regardless of what happens.

Don't get me wrong, I dislike Mr. Triple Bottom Line Dr. Martin Luther Ted and think the move will be a disaster for everyone but him.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

So this is over and above just the additional time it takes for most patrons to even get to PY.

Does this include waiting for the train to actually arrive? It’ll be a long time at that hour unless wmata is planning to put on more trains on game nights. Or does this assume a train every five minutes or so?

Virginia is so screwed. No one will come to these games and it will cost us a bundle to pay for it all.

Yeah. I agree. This is similar to when the then Washington Skins moved to Landover believing people would follow and use the Largo stop. Nope. And it didn’t help that the team sucked.

[Anonymous]

Interesting line toward the bottom of Mayor Bowser’s Washington Post op-ed: “We intend to keep our end of the bargain and enforce the leases with Monumental that require the Wizards and Capitals to play at the arena through 2047 and the Mystics to play in Congress Heights through 2037.”

https://www.washingtonpost.com/opinions/2024/02/09/mayor-bowser-washington-sports-teams-arena-ted-leonsis/

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Prediction. If Leonsis doesn’t get the PY spot, the Wizards are on their way to Seattle or Vegas and the Caps will end up in Houston, Kansas City, or Atlanta (yes the NHL may just try another team here).

The Leagues won't allow either team to leave the region. Ted would be forced to sell.

Ask Seattle about losing the Sonics to Oklahoma City. Ask Oakland about losing the Warriors, Raiders, and A’s. Ask Baltimore about losing the Bullets and Colts. Ask St Louis about losing the Cardinals and then the Rams. Ask San Diego about the Chargers. The list goes on and on.
Money follows money.

None of those markets are the nation's capital.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Ted, you may not feel you are abandoning DC, but your DC and MD fans feel you are abandoning us. So if that is how you feel, your teams can play to empty arenas between now and when you have another venue in 2028/2029.

Have fun.

In reality, Ted is abandoning DC. Capital One supposedly hosts 200 events a year. Assuming each event draws on average 10,000 fans, that is 2+ million fans filtering through Capital One and Chinatown a year. There is no way that Ted can replace that number without the 80+ Caps/Wizards games. Moreover, does Ted really plan to keep the remaining 120 events a year at Capital One, even though he would own a brand shiny new entertainment district "only" a few miles away? Skeptic here. Is Ted willing to guarantee, with financial backup, that Capital One will continue to host 2+ million guests a year. Skeptic here. Further, we also know that new entertainment facilities do not increase the overall entertainment expenditures, as the new facilities simply divert entertainment dollars from X venue to Y venue. Do we really think that DMV and the "close" suburbs really need another entertainment facility? In fact, whatever entertainment venue that he might build in PY will only draw events from other DMV venues. Skeptic here. Finally, does he really think that a season ticket holder to 20-40 Caps/Wizards games a year is interested in (or has time for) nearby restaurants. This sports fan eats at the park, whether in a suite or downstairs. Generally not interested in nearby restaurants.

By the time PY is built, Ted will no longer have the ground lease under the CapOne Arena. He will need to either (1) negotiate a new $$$$ ground lease with the DC government or (2) sell the stadium structure at a big discount to another entity that will sign a new ground lease with DC government. The value is in the land, not the arena; especially if PY actually gets built.

The fact that neither the NHL or NBA would let him take the franchises out of DC makes me more certain than ever that Ted is angling to sell Monumental to someone else and trying to use the PY deal to gain leverage/add value to the company. Ted is old, his heirs don't want to run it.

Uh, his son Zach is an executive at Monumental and has been there since he finished his education.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Ted, you may not feel you are abandoning DC, but your DC and MD fans feel you are abandoning us. So if that is how you feel, your teams can play to empty arenas between now and when you have another venue in 2028/2029.

Have fun.

In reality, Ted is abandoning DC. Capital One supposedly hosts 200 events a year. Assuming each event draws on average 10,000 fans, that is 2+ million fans filtering through Capital One and Chinatown a year. There is no way that Ted can replace that number without the 80+ Caps/Wizards games. Moreover, does Ted really plan to keep the remaining 120 events a year at Capital One, even though he would own a brand shiny new entertainment district "only" a few miles away? Skeptic here. Is Ted willing to guarantee, with financial backup, that Capital One will continue to host 2+ million guests a year. Skeptic here. Further, we also know that new entertainment facilities do not increase the overall entertainment expenditures, as the new facilities simply divert entertainment dollars from X venue to Y venue. Do we really think that DMV and the "close" suburbs really need another entertainment facility? In fact, whatever entertainment venue that he might build in PY will only draw events from other DMV venues. Skeptic here. Finally, does he really think that a season ticket holder to 20-40 Caps/Wizards games a year is interested in (or has time for) nearby restaurants. This sports fan eats at the park, whether in a suite or downstairs. Generally not interested in nearby restaurants.

By the time PY is built, Ted will no longer have the ground lease under the CapOne Arena. He will need to either (1) negotiate a new $$$$ ground lease with the DC government or (2) sell the stadium structure at a big discount to another entity that will sign a new ground lease with DC government. The value is in the land, not the arena; especially if PY actually gets built.

The fact that neither the NHL or NBA would let him take the franchises out of DC makes me more certain than ever that Ted is angling to sell Monumental to someone else and trying to use the PY deal to gain leverage/add value to the company. Ted is old, his heirs don't want to run it.

Uh, his son Zach is an executive at Monumental and has been there since he finished his education.

Tell me that cake eater has the same gumption and cleverness as his old man.

Sell and count your family’s money for the next 4 generations.

[Anonymous]

Anonymous wrote:Interesting line toward the bottom of Mayor Bowser’s Washington Post op-ed: “We intend to keep our end of the bargain and enforce the leases with Monumental that require the Wizards and Capitals to play at the arena through 2047 and the Mystics to play in Congress Heights through 2037.”

https://www.washingtonpost.com/opinions/2024/02/09/mayor-bowser-washington-sports-teams-arena-ted-leonsis/

That's likely an interesting reading of the lease agreement.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Interesting line toward the bottom of Mayor Bowser’s Washington Post op-ed: “We intend to keep our end of the bargain and enforce the leases with Monumental that require the Wizards and Capitals to play at the arena through 2047 and the Mystics to play in Congress Heights through 2037.”

https://www.washingtonpost.com/opinions/2024/02/09/mayor-bowser-washington-sports-teams-arena-ted-leonsis/

That's likely an interesting reading of the lease agreement.

Indeed it is. But the key part is the Mystics comment. Ted was clearly trying to pull a fast one on substituting the Caps/Wizards with the Mystics.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Interesting line toward the bottom of Mayor Bowser’s Washington Post op-ed: “We intend to keep our end of the bargain and enforce the leases with Monumental that require the Wizards and Capitals to play at the arena through 2047 and the Mystics to play in Congress Heights through 2037.”

https://www.washingtonpost.com/opinions/2024/02/09/mayor-bowser-washington-sports-teams-arena-ted-leonsis/

That's likely an interesting reading of the lease agreement.

Indeed it is. But the key part is the Mystics comment. Ted was clearly trying to pull a fast one on substituting the Caps/Wizards with the Mystics.

Yeah, he's a complete misogynist to trying to move the WNBA to a premiere location. Of course, there will be someone pointing out that Congress Heights has even better metro service than Capital One.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Interesting line toward the bottom of Mayor Bowser’s Washington Post op-ed: “We intend to keep our end of the bargain and enforce the leases with Monumental that require the Wizards and Capitals to play at the arena through 2047 and the Mystics to play in Congress Heights through 2037.”

https://www.washingtonpost.com/opinions/2024/02/09/mayor-bowser-washington-sports-teams-arena-ted-leonsis/

That's likely an interesting reading of the lease agreement.

Indeed it is. But the key part is the Mystics comment. Ted was clearly trying to pull a fast one on substituting the Caps/Wizards with the Mystics.

Yeah, he's a complete misogynist to trying to move the WNBA to a premiere location. Of course, there will be someone pointing out that Congress Heights has even better metro service than Capital One.

Don't be an idiot. The WNBA is a third tier sports league in North America. We may wish it wasn't but that's what it is.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Interesting line toward the bottom of Mayor Bowser’s Washington Post op-ed: “We intend to keep our end of the bargain and enforce the leases with Monumental that require the Wizards and Capitals to play at the arena through 2047 and the Mystics to play in Congress Heights through 2037.”

https://www.washingtonpost.com/opinions/2024/02/09/mayor-bowser-washington-sports-teams-arena-ted-leonsis/

That's likely an interesting reading of the lease agreement.

Indeed it is. But the key part is the Mystics comment. Ted was clearly trying to pull a fast one on substituting the Caps/Wizards with the Mystics.

Yeah, he's a complete misogynist to trying to move the WNBA to a premiere location. Of course, there will be someone pointing out that Congress Heights has even better metro service than Capital One.

The fact is, he forced the city into spending over sixty million dollars on the Congress Heights arena/practice facility. The city didn't balk at it. Until this BS deal with his old crony, Gov. Youngkin, the relationship with the city was sound. But hey, who wouldn't want a free 2 billion windfall at the expense of VA taxpayers.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Ted, you may not feel you are abandoning DC, but your DC and MD fans feel you are abandoning us. So if that is how you feel, your teams can play to empty arenas between now and when you have another venue in 2028/2029.

Have fun.

In reality, Ted is abandoning DC. Capital One supposedly hosts 200 events a year. Assuming each event draws on average 10,000 fans, that is 2+ million fans filtering through Capital One and Chinatown a year. There is no way that Ted can replace that number without the 80+ Caps/Wizards games. Moreover, does Ted really plan to keep the remaining 120 events a year at Capital One, even though he would own a brand shiny new entertainment district "only" a few miles away? Skeptic here. Is Ted willing to guarantee, with financial backup, that Capital One will continue to host 2+ million guests a year. Skeptic here. Further, we also know that new entertainment facilities do not increase the overall entertainment expenditures, as the new facilities simply divert entertainment dollars from X venue to Y venue. Do we really think that DMV and the "close" suburbs really need another entertainment facility? In fact, whatever entertainment venue that he might build in PY will only draw events from other DMV venues. Skeptic here. Finally, does he really think that a season ticket holder to 20-40 Caps/Wizards games a year is interested in (or has time for) nearby restaurants. This sports fan eats at the park, whether in a suite or downstairs. Generally not interested in nearby restaurants.

By the time PY is built, Ted will no longer have the ground lease under the CapOne Arena. He will need to either (1) negotiate a new $$$$ ground lease with the DC government or (2) sell the stadium structure at a big discount to another entity that will sign a new ground lease with DC government. The value is in the land, not the arena; especially if PY actually gets built.

The fact that neither the NHL or NBA would let him take the franchises out of DC makes me more certain than ever that Ted is angling to sell Monumental to someone else and trying to use the PY deal to gain leverage/add value to the company. Ted is old, his heirs don't want to run it.

The fact of the matter is that the Wizards just started a complete tear down and rebuild while the Caps will be doing the same in two years. Both fan bases are going to have to be rebuilt anyway. The timeline for the new arena syncs up with the timeline of the teams' potential relevence.

As for the ground lease, he seemed to think that he'd be able to scam money from DC for the Mystics. I think the outcry has put a stop to that but without that I wouldn't have put it past Bowser et al to have fallen for the grift.

But it doesn't matter, the arena is fully depreciated and Monumental also owns the local Ticketmaster franchise. He makes money regardless of what happens.

Don't get me wrong, I dislike Mr. Triple Bottom Line Dr. Martin Luther Ted and think the move will be a disaster for everyone but him.

The wizards are in the middle of a 40+ year rebuild. They haven’t been relevant in decades and there is no reason to think that they ever will be

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Ted, you may not feel you are abandoning DC, but your DC and MD fans feel you are abandoning us. So if that is how you feel, your teams can play to empty arenas between now and when you have another venue in 2028/2029.

Have fun.

In reality, Ted is abandoning DC. Capital One supposedly hosts 200 events a year. Assuming each event draws on average 10,000 fans, that is 2+ million fans filtering through Capital One and Chinatown a year. There is no way that Ted can replace that number without the 80+ Caps/Wizards games. Moreover, does Ted really plan to keep the remaining 120 events a year at Capital One, even though he would own a brand shiny new entertainment district "only" a few miles away? Skeptic here. Is Ted willing to guarantee, with financial backup, that Capital One will continue to host 2+ million guests a year. Skeptic here. Further, we also know that new entertainment facilities do not increase the overall entertainment expenditures, as the new facilities simply divert entertainment dollars from X venue to Y venue. Do we really think that DMV and the "close" suburbs really need another entertainment facility? In fact, whatever entertainment venue that he might build in PY will only draw events from other DMV venues. Skeptic here. Finally, does he really think that a season ticket holder to 20-40 Caps/Wizards games a year is interested in (or has time for) nearby restaurants. This sports fan eats at the park, whether in a suite or downstairs. Generally not interested in nearby restaurants.

By the time PY is built, Ted will no longer have the ground lease under the CapOne Arena. He will need to either (1) negotiate a new $$$$ ground lease with the DC government or (2) sell the stadium structure at a big discount to another entity that will sign a new ground lease with DC government. The value is in the land, not the arena; especially if PY actually gets built.

The fact that neither the NHL or NBA would let him take the franchises out of DC makes me more certain than ever that Ted is angling to sell Monumental to someone else and trying to use the PY deal to gain leverage/add value to the company. Ted is old, his heirs don't want to run it.

The fact of the matter is that the Wizards just started a complete tear down and rebuild while the Caps will be doing the same in two years. Both fan bases are going to have to be rebuilt anyway. The timeline for the new arena syncs up with the timeline of the teams' potential relevence.

As for the ground lease, he seemed to think that he'd be able to scam money from DC for the Mystics. I think the outcry has put a stop to that but without that I wouldn't have put it past Bowser et al to have fallen for the grift.

But it doesn't matter, the arena is fully depreciated and Monumental also owns the local Ticketmaster franchise. He makes money regardless of what happens.

Don't get me wrong, I dislike Mr. Triple Bottom Line Dr. Martin Luther Ted and think the move will be a disaster for everyone but him.

The wizards are in the middle of a 40+ year rebuild. They haven’t been relevant in decades and there is no reason to think that they ever will be

+1 - not with this ownership. They are happy to take the league revenue payout and make money from that and concessions.

And the Caps have only been relevant because of Ovechkin, which they lucked into with a lottery pick coming through the lockout in 2003. Ted has been a mostly abysmal owner and manager.

[Anonymous]

I guess it is amateur hour in Virginia state politics.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Interesting line toward the bottom of Mayor Bowser’s Washington Post op-ed: “We intend to keep our end of the bargain and enforce the leases with Monumental that require the Wizards and Capitals to play at the arena through 2047 and the Mystics to play in Congress Heights through 2037.”

https://www.washingtonpost.com/opinions/2024/02/09/mayor-bowser-washington-sports-teams-arena-ted-leonsis/

That's likely an interesting reading of the lease agreement.

Indeed it is. But the key part is the Mystics comment. Ted was clearly trying to pull a fast one on substituting the Caps/Wizards with the Mystics.

Yeah, he's a complete misogynist to trying to move the WNBA to a premiere location. Of course, there will be someone pointing out that Congress Heights has even better metro service than Capital One.

Don't be an idiot. The WNBA is a third tier sports league in North America. We may wish it wasn't but that's what it is.

And it always will be if they keep playing in third tier arenas.