Wizards, Capitals Celebrate $800M Capital One Renovation Project

Washington Capitals, Mystics, and Wizards owner Ted Leonsis, NBA commissioner Adam Silver, District of Columbia Mayor Muriel Bowser, and other officials celebrated the start of an $800 million renovation project of Capital One Arena in the downtown area.

Capital One Arena renovation project will keep the Washington Wizards, Capitals in the building through their 2049-50 seasons

According to The Athletic’s David Aldridge, the renovation will keep the Wizards and Capitals in the building through their 2049-50 seasons and allow for additional future events to be held in the building. Capital One Arena will be open for other events approximately 220 to 230 nights a year.

The event unveiled renderings for what Capital One Arena should look like when it is fully redesigned in time for the 2027-28 NHL and NBA seasons. Questions mounted near Capitol Hill regarding the city’s plan of luring the NFL’s Washington Commanders. Much is unknown at this time for the professional football team.

Where we’ve made history. Where we’ll make more. Where we’re turning the past inside out to make the future.

Introducing the New @CapitalOneArena: Where Monuments Meet Momentum. pic.twitter.com/LniNKtpirz

— Monumental Sports & Entertainment (@MSE) December 19, 2024

Furthermore, the construction project involves using 7th Street, N.W. to better connect Gallery Place Mall with neighborhoods that run along it to Chinatown and downtown. The plan also calls for using F Street and a new “Grand Pavilion” to serve as the entry and exit point for up to 90 percent of fans arriving to Capital One.

In December 2023, Leonsis and Virginia Governor Glenn Youngkin announced a deal to build an arena in the Potomac Yards neighborhood in Alexandria, Va.

When Virginia’s legislation for a stadium authority was not approved, Leonsis and Mayor Bowser reached an agreement to keep the teams at Capital One Arena, as part of a $515 million, publicly funded project.

Wizards’ space will feature new recovery facilities, greater advanced video review system

A provision to transfer the land including RFK Stadium to the district was removed from Congress’ spending bill. However, keeping the teams in D.C. was still a significant victory for Bowser.

“I’ve got to say, what a difference a year makes,” Ward 2 council member Brooke Pinto said. “Ted Leonsis, thank you so much for believing in this city. … Thank you for your dedication to our city.”

Monumental Sports and Entertainment, Leonsis’ company, will pay for the rest of the project. City leaders are hoping the revamped arena will drive revenue in the region, serving as a central hub of the nation’s capital.

Here’s a rendering of what the exterior of Capital One Arena will look like, once the renovations are complete, from the vantage point of 7th and F Streets NW. Rendering supplied by Monumental Sports & Entertainment. pic.twitter.com/hX1Y4jhDVT

— Josh Robbins (@JoshuaBRobbins) December 19, 2024

“When you see those signs, ‘Please excuse our dust,’ there’s going to be a lot of dust here,” Leonsis said. “This project is massive. It’ll probably take three seasons to do it, and it’s $800 million. It is a significant, significant program. But after you see what we’re going to do for the players, the fans, and the city, it’ll be worth the wait.”

Per Aldridge, Monumental said the Wizards’ space will include new recovery facilities with hydrotherapy pools and massage areas, along with “greater media and analytics integrations” that will provide greater advanced video review of upcoming opponents.

Capitals’ space will have ergonomically designed lockers with integrated drying systems, personalized storage for gear

The Capitals’ space will have “ergonomically designed lockers with integrated drying systems, personalized storage for gear, dressing areas, lounge spaces, and new weight and functional training areas.” This includes cold and hot tubs and compression therapy areas designed specifically for hockey players.

Doubling the size of locker rooms while adding suites and other amenities is a top priority as well. The construction work will take place in several stages from now through fall 2027. Phase 2 will begin next summer, with the construction of the new locker rooms, a large family lounge, and new media facilities.

Phase 3 will take place during the 2025-26 season. This phase involves prep work starting on exterior upgrades, including the new primary entrances on F Street and adding more restrooms and concession spaces.

Phase 4, in the summer of 2026, will entail major exterior upgrades, including a new façade and improvements to the Grand Pavilion, revamped concessions, and upgraded suites.

Capital One Arena in Washington, D.C. has been the home of the NBA and NHL teams since December 1997

Additionally, Phase 5 is slated to begin during the 2026-27 season. The fifth phase will upgrade club level and various amenities, along with improving entrance pathways and exits throughout the building.

The final phase is scheduled for the summer of 2027. The last construction stage will see the completion of the Grand Pavilion, along with the construction of additional bathrooms, concession spaces, and loge boxes.

“This is nearly a billion-dollar investment for [players’] benefit and for the community’s benefit,” Silver said, alluding to future All-Star Games and other events that will take place.

“The NBA and NHL will have less than half the dates at the end of the day because what’s happened now with these entertainment palaces — they are full, it seems, practically every night of the year.”

Capital One Arena has been the home of the NBA and NHL teams since December 1997.