In a recent letter to fans & supporters, Ted Leonsis Founder, Chairman, Principal Partner and CEO of Monumental Sports & Entertainment shared an update on the proposed Entertainment District in Alexandria, Virginia. Leonis provided insight into the decision to move the team along, location selection, and financing of the project. The letter also details plans for the project to be a "fully developed family and fan-friendly sports & entertainment community."

"Professional sports teams are realizing that to build championship level contenders, an outsized investment in space is required. Teams are having to go increasingly outside the center of cities to find this space. However, this unique plot of land in Alexandria is mere miles from downtown Washington, DC, along the Potomac River, incredibly accessible to fans, and next to a metro stop. This was a once in a lifetime opportunity for our company. The extra space is where we will have practice facilities, hotels, office spaces, and a bigger arena. Right now, we have 3.8 acres. In Potomac Yard we will have 12 acres. Currently, we can only program inside the arena. At Potomac Yard, we will be able to program the entire area, creating an exceptional and contiguous fan experience.  

The decision to move the teams to Potomac Yard is about space and opportunity. A chance to consolidate staff and teams currently located in four separate locations – so we can finally have a central headquarters. New room to innovate, more room to provide better services for our teams, services for the community and better experiences for our fans. What excites me about this opportunity is the land, the accessibility it provides, and being part of the tech corridor that has been established in this neighborhood. The ability to build a smart campus from scratch. With this transformational opportunity, we believe the entire DMV community will be enriched and strengthened."

The full letter can be viewed here.