Politics & Government Subsidies For Billionaire’s Sports Complex Concern Arlington Official Sen. Barbara Favola is wary of providing state support for a Capitals and Wizards arena when education and other services are underfunded.
A rendering of the $2.2 billion sports and entertainment complex proposed by Monumental Sports & Entertainment in Potomac Yard in Alexandria, near the border with Arlington. (Courtesy of JGB Smith)
ARLINGTON, VA — Before leaving his elected position at the end of 2023, Arlington County Board Chair Christian Dorsey gave a big thumbs-up to plans by the billionaire owner of the Washington Capitals and Wizards to use taxpayer subsidies to build a sports and entertainment complex in Potomac Yard in Alexandria, near the border with Arlington.
“Arlington has a long-standing relationship with Monumental Sports & Entertainment, and we are excited by their plans to develop a world class entertainment district in the City of Alexandria and National Landing,” Dorsey said in a statement about the $2.2 billion project that would move the teams from their location in downtown Washington, D.C. to the Virginia suburbs. Not every official who represents Arlington shares Dorsey’s excitement about the proposed sports and entertainment complex in Potomac Yard.
For its part in the project, Virginia would need to create a Virginia Sports and Entertainment Authority that would issue two bond offerings and would need to contribute an additional $300 million from existing city and state funds, according to a study produced by investment bank JPMorgan for the state. “As I understand it, the bonds would be issued using the state’s good faith and debt capacity, but the Authority would be obligated to fully reimburse the state using revenues generated from activities housed at the complex,” state Sen. Barbara Favola (D-40th District) said in a letter to constituents about the proposed complex.
READ ALSO: Majority Oppose Capitals, Wizards Arena In Alexandria: Patch Survey Based on her understanding of the proposal, Favola said, “Providing state financial support for a sports complex when K-12 public education and other core serves are woefully underfunded is not a trade-off I am willing to make.”
Favola’s 40th District represents about 85 percent of Arlington and no other jurisdictions.
Last month, U.S. Sen. Mark Warner (D-VA), Alexandria Mayor Justin Wilson (D) and Virginia Gov. Glenn Youngkin (R) joined Ted Leonsis, Monumental’s managing partner and one of the wealthiest people in the D.C. area, with a Forbes-estimated net worth of $2.8 billion, to announce the project.
The sports and entertainment complex would receive the largest-ever public subsidy for a project of its kind, an estimated $1.35 billion in state and local funds, if it goes forward, The Washington Post reported. In response to the announcement last month, Dorsey said the sports and entertainment complex in Potomac Yard “is an excellent opportunity for Arlington to continue to partner with Alexandria to fulfill our shared, long-term vision to transform National Landing into a highly connected, urban neighborhood that drives positive economic impacts for our communities, and it further cements our region among the world’s most innovative and dynamic places to live, play, and do business.” Favola, on the other hand, believes a thorough analysis needs to be conducted on the traffic congestion in Arlington and Alexandria “that would likely embrace Route 1 on game days.” “The area in and around Potomac Yard is already busy with traffic, even with a fully functioning Metro service,” she said. “When you compare this traffic scenario with the current location of the Capital Sports arena and its access to the Red, Yellow, and Green lines, it is clear that Virginia will bear a greater burden of car traffic generated from the DMV fan-base than the District currently bears.” Unlike Dorsey, Warner and Youngkin, Favola is viewing the potential move of the Capitals and Wizards out of D.C. from a regional perspective. She contends the financial health of the Virginia suburbs is dependent on the financial health of the District of Columbia.
“The economic and cultural hole that the exit of the Capitals Sports Arena would create for the District would be impossible to fill,” she said. “Yet, the Potomac Yard area is already home to an Amazon project that will include multi-use housing and retail development and Virginia Tech’s Innovation Center will be fully operational soon. These are cornerstones of vitality for Arlington County and the City of Alexandria. Do we need to add to this dynamic and if so, at what cost?” READ ALSO: Arena In Alexandria’s Potomac Yard Could Create 29K+ Jobs: Report Natalie Roy, a local Realtor who is seeking the Democratic nomination for Arlington County Board this year, also noted the potential negative effects of moving the teams out of D.C. “A healthy, vibrant, economically thriving Washington, D.C., is critically important for Arlington and Alexandria,” Roy said in a statement. “Should we be actively undermining what is now a vital economic pillar of downtown Washington?” Keeping the sports arena in downtown D.C. would make it easier for fans who live in many parts of Arlington and elsewhere in Northern Virginia, as well as the many fans of the Capitals and Wizards who live in Baltimore and elsewhere in Maryland, to attend games.
Roy also asked why the billionaire owner of the Capitals and Wizards needs subsidies from Arlington residents and other Virginia taxpayers to build this arena. “Is this arena the highest priority for our taxpayer dollars?” she asked. From an environmental perspective, the new arena and other facilities “will be built on environmentally sensitive land, within half a mile of the Potomac River,” Roy noted. “How will the owners deal with the issues of building in a flood-prone, low-lying, transportation-challenged site? Will there be an environmental-impact study done prior to going forward with the stadium? What safeguards and protections will be adopted to ensure we are being environmentally responsible? What will happen to this area in coming decades as climate change increases the risk of flooding?” she asked. In her role as a state senator who represents Arlington, Favola said she will continue to examine legislative proposals on the Potomac Yard project and listen to the concerns raised by the community, including potential impacts on transportation and quality of life. RELATED: Washington Capitals, Wizards Move From DC To NoVA Outlined
Subsidies For Billionaire’s Sports Complex Concern Arlington Official
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