WASHINGTON CAPITALS

BY BEN RABY

OWNERSHIP TED LEONSIS AS TED LEONSIS celebrates 25 years of life in pro sports, he is also moving past one of his greatest challenges. Last fall, Leonsis shared plans for a sprawling entertainment district in northern Virginia, which included an arena that would house his teams and was set to be financed with a private-public split. The public backlash over the potential move was massive – far greater than Leonsis expected. The plan eventually stalled due to opposition in Virginia’s State Legislature, but Leonsis pivoted successfully, reaching a deal to keep his teams in their current D.C. home for at least 25 years. As part of the deal, D.C. will provide $515 million to upgrade Capital One Arena and its surrounding area over the next three years. Leonsis’ company, Monumental Sports &…

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The Hockey News (Digital) - 1 Issue, Money & Power 2025

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