DC attorney general says Capitals and Wizards are locked into their lease until 2047

The Washington Wizards and Capitals are contractually required to to remain in Washington, D.C., until at least 2047, according to district Attorney General Brian Schwalb.

It’s the latest blow to Monumental Sports & Entertainment’s effort to move the teams to Virginia.

“I am advising you that the District does not agree with your legal conclusion [Monumental’s] proposed arena move to Virginia does not violate or breach its legal obligations to the District,” Schwalb said in a letter to MSE.

The attorney general said MSE cannot get out of the lease agreement by simply paying “its outstanding bond debt.” He continued, “The District is fully committed to maintaining, building upon, and strengthening its relationship with MSE.”

Schwalb also said MSE broke the contract it had by not informing city officials of any intent to move the teams.

“If MSE intends to relocate
Read more…

Please follow and like us: