The city of Alexandria says negotiations to lure the NHL’s Washington Capitals and NBA’s Washington Wizards to northern Virginia have “ended” and the proposal to create a development district with a new arena for the teams “will not move forward.” The city posted that announcement in statement on its website Wednesday.
FILE - Ted Leonsis, left, owner of the Washington Wizards NBA basketball team and Washington Capitals HNL hockey team, shakes hands with Virginia Gov. Glenn Youngkin as they announce plans for a new sports stadium for the teams, Wednesday, Dec. 13, 2023, in Alexandria, Va.
The city said in a statement posted to its website that it was disappointed in the outcome. The development came after an incentive plan offered by Youngkin failed to gain traction in the Democratic-controlled General Assembly. Youngkin expressed disappointment and frustration over the demise of a plan he said would have created $12 billion in economic investment.
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