Reply to Wizards and Caps could be moving to Potomac Yard

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Reply to "Wizards and Caps could be moving to Potomac Yard"

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[quote=Anonymous]I don't see the upside here for anyone, except Ted. The teams will suffer, the fans will suffer, the local residents will suffer, the VA taxpayers at-large will suffer.

Virginia residents are put on the hook for bond payments that clearly will not be fully covered by whatever revenues are generated by team.

I'll eat my hat if this gets through VA legislature. I don't think it will.

If I had to guess, Ted is doing this to increase the value of Monumental by getting a sweetheart land + arena deal backed by taxpayers. He's then going to sell Monumental to an ownership group with deeper pockets who are willing to "invest" in the teams' personnel.

His teams' value is actually declining the longer he stays in DC because a big part of the value is predicated on the sweetheart rent he pays for CapOne arena. That lease is up within 5 years and then he will need to pay market rate. Those teams are worth a lot less without the below-market rent on the ground lease.

In short, DC has him by the nuts once that lease expires. [/quote]

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