The Wizards are looking to make major renovations to their arena and want public funding to pay for the majority of the bill.
Monumental Sports & Entertainment, which owns the Wizards as well as the NHL’s Capitals and WNBA’s Mystics, has asked D.C. for $600MM of public funding to renovate Capital One Arena, Sam Fortier of The Washington Post reports. That’s about 75% of the funds needed to carry out Monumental’s renovation plan. The remaining $200MM would be covered by Monumental, which is owned by chief executive Ted Leonsis.