Editing Capital One Arena (section)

==History==
The block where the arena was built, between 6th and 7th and F and G Streets, historically held a mix of residences and small businesses.<ref name="haggerty">{{cite news |last=Haggerty |first=Maryann |date=September 4, 1995 |title=THE PLACE THAT LOST ITS HEART |newspaper=The Washington Post |url=https://www.washingtonpost.com/archive/business/1995/09/04/the-place-that-lost-its-heart/fa6a6f9c-0260-4d53-aa3e-1fdbaaa97b9f |access-date=September 5, 2023}}</ref> By the 1960s, it was suffering from [[urban decay]], like much of the eastern end of [[Downtown (Washington, D.C.)|Downtown Washington]].<ref name=haggerty/> In 1973, while the [[Gallery Place station|Gallery Place]] Metro station was being developed below it, the District government bought the land in hopes of redeveloping it.<ref name="brenner">{{cite news |last=Brenner |first=Joel Glenn |date=October 30, 1989 |title=WHAT HAPPENED TO GALLERY PLACE? |newspaper=The Washington Post |url=https://www.washingtonpost.com/archive/business/1989/10/30/what-happened-to-gallery-place/68ccab0e-be42-444b-af5e-c4a2279b9f37 |access-date=September 5, 2023}}</ref> Capital Landmark Associates was selected in 1979 to develop the site with a planned mixed-use complex including retail, offices, apartments, and a hotel.<ref name=brenner/> Most of the remaining buildings on the site were demolished in 1985.<ref name=haggerty/> The project languished for many years but never materialized, and was finally canceled in 1992.<ref name=haggerty/>

Before the arena's opening, the Capitals and the Wizards (then known as the Washington Bullets) played at [[Capital Centre (Landover, Maryland)|USAir Arena]] in the Washington suburb of [[Landover, Maryland]]. The teams experienced subpar attendance because the location was inconvenient for both Washington and Baltimore residents, and their arena, though only 20 years old, was not up to the standards of other NBA and NHL venues.<ref>{{cite news |last=Rosenthal |first=Ken |date=December 9, 1993 |title=Bullets, Capitals at Camden Yards? |work=The Baltimore Sun |url=https://infoweb.newsbank.com/apps/news/document-view?p=AWNB&docref=news/0EB2E6AEC9456E31&f=basic |access-date=September 5, 2023 |via=NewsBank}}</ref><ref>{{cite news |last=Hyman |first=Mark |date=December 24, 1993 |title=Pollin won't rule out a move downtown |work=The Baltimore Sun |url=https://infoweb.newsbank.com/apps/news/document-view?p=AWNB&docref=news/0EB2E6D1D0C17CAE&f=basic |access-date=September 5, 2023 |via=NewsBank}}</ref><ref>{{cite news |last=Boswell |first=Thomas |date=December 4, 1993 |title=It's not pretty, but it does the job |work=The Daily Oklahoman |agency=Washington Post |url=https://www.newspapers.com/article/81235424/its-not-pretty-but-it-does-the-job |access-date=September 5, 2023 |via=Newspapers.com}}</ref> In December 1993, [[Abe Pollin]], the owner of both teams, began studying options to move the teams to a new arena to be built with public financing, with possible locations including Baltimore, downtown Washington, and [[Laurel, Maryland]].<ref>{{cite news |date=December 27, 1993 |title=BULLETS, CAPS MIGHT LEAVE HOME ARENA |work=News & Record |location=Greensboro, NC |url=https://infoweb.newsbank.com/apps/news/document-view?p=AWNB&docref=news/0EAF85556CD249FF&f=basic |access-date=September 5, 2023 |via=NewsBank}}</ref><ref>{{cite news |date=December 11, 1993 |title=BULLETS, CAPITALS OFF TO NEW ARENA? |work=The Miami Herald |url=https://infoweb.newsbank.com/apps/news/document-view?p=AWNB&docref=news/0EB4CED3F83064CD&f=basic |access-date=September 5, 2023 |via=NewsBank}}</ref>
[[File:Mci center jan2006a.jpg|thumb|left|250px|The arena in January 2006, then known as MCI Center]]
A group of Washington business leaders brokered a deal between Pollin and the District government to build an arena at the Gallery Place site, with the District paying for the $150 million project, which was envisioned to have shopping, food, and exhibitors for daily use even when there was no arena event.<ref>{{cite news |last=Morgan |first=Jon |date=June 8, 1994 |title=Pollin, D.C. talking deal on moving to Washington |work=The Baltimore Sun |url=https://infoweb.newsbank.com/apps/news/document-view?p=AWNB&docref=news/0EB2E85DE46F9FE5&f=basic |access-date=September 5, 2023 |via=NewsBank}}</ref><ref>{{cite news |date=June 4, 1994 |title=4 council members to announce bids - City nears deal on sports arena |work=The Washington Times |url=https://infoweb.newsbank.com/apps/news/document-view?p=AWNB&docref=news/0EB0F0BEAC13155E&f=basic |access-date=September 5, 2023 |via=NewsBank}}</ref><ref name="funding">{{cite news |date=July 20, 1994 |title=FUNDING SET FOR D.C. SPORTS ARENA |work=The Star-Ledger |location=Newark, NJ |url=https://infoweb.newsbank.com/apps/news/document-view?p=AWNB&docref=news/12248A5617A72530&f=basic |access-date=September 5, 2023 |via=NewsBank}}</ref> The [[D.C. Council]] approved a special tax on businesses to finance the deal.<ref name=funding/> However, a competing proposal soon emerged, when [[Robert L. Johnson|Robert Johnson]], head of [[BET|Black Entertainment Television]], offered to build the arena with mostly private financing.<ref>{{cite news |last1=Flynn |first1=Adrianne |last2=Neufeld |first2=Matt |date=August 11, 1994 |title=D.C. officials cautious about offer to fund arena |work=The Washington Times |url=https://infoweb.newsbank.com/apps/news/document-view?p=AWNB&docref=news/0EB0F0DAE20A904D&f=basic |access-date=September 5, 2023 |via=NewsBank}}</ref> With the arena deal facing criticism amid the [[District of Columbia Financial Control Board|District's budget crisis]], Pollin eventually agreed to privately fund the construction of the building, which ultimately came to $200 million<ref>{{cite news |last=Flynn |first=Adrianne |date=December 24, 1994 |title=Pollin offers to pay for downtown sports arena |work=The Washington Times |url=https://infoweb.newsbank.com/apps/news/document-view?p=AWNB&docref=news/0EB0F10E5DB800C2&f=basic |access-date=September 5, 2023 |via=NewsBank}}</ref><ref name="thompson">{{cite news |last=Thompson |first=Cheryl W. |date=April 30, 1998 |title=CITY PAYING FOR POLICE AT MCI CENTER |newspaper=The Washington Post |url=https://www.washingtonpost.com/archive/politics/1998/04/30/city-paying-for-police-at-mci-center/fad742cb-7872-41bc-84ce-cdc0085c27ad |access-date=September 5, 2023}}</ref> (US${{formatprice|{{Inflation|US-GDP|200000000|1995}}}} in {{Inflation-year|US-GDP}} dollars{{inflation-fn|US-GDP}}). The District would pay for other costs, including purchasing the portion of the land it did not already own, preparing the site, and expanding the Metro station; these eventually amounted to $79 million<ref name=thompson/><ref>{{cite report|title=Final Status on the Sports Arena|publisher=United States General Accounting Office|date=July 1998|pages=1–3|url=https://www.gao.gov/assets/aimd-98-223.pdf|access-date=August 1, 2021}}</ref> (US${{formatprice|{{Inflation|US-GDP|79000000|1998}}}} in {{Inflation-year|US-GDP}} dollars{{inflation-fn|US-GDP}}). The District leased the land to Pollin at a below-market rate of $300,000 per year.<ref>{{cite news |last=Terry |first=Robert J. |date=June 22, 2012 |title=30 Years: MCI Center opens in East End |work=Washington Business Journal |url=https://www.bizjournals.com/washington/print-edition/2012/06/22/30-years-mci-center-opens-in-east.html |access-date=August 1, 2021}}</ref><ref>{{cite report|title=Status of the Sports Arena|publisher=United States General Accounting Office|date=November 1997|page=13|url=https://www.gao.gov/assets/aimd-98-26.pdf|access-date=August 1, 2021}}</ref>

A [[naming rights]] deal was struck with [[MCI Communications]] to name the arena as the '''MCI Center'''.<ref>{{cite news |last=Woellert |first=Lorraine |date=June 8, 1995 |title=For downtown arena, future is now |work=The Washington Times |url=https://en.wikipedia.org/w/index.php?title=Capital_One_Arena&oldid=1168024903&action=edit |access-date=September 5, 2023 |via=NewsBank}}</ref> The [[groundbreaking ceremony]] for the project was held in October 1995.<ref>{{cite news|title=Pollin digs in for arena|work=The Washington Times|last=Lorraine Woellert|date=October 19, 1995|url=https://infoweb.newsbank.com/apps/news/openurl?ctx_ver=z39.88-2004&rft_id=info%3Asid/infoweb.newsbank.com&svc_dat=AWNB&req_dat=1028A39C75C2B899&rft_val_format=info%3Aofi/fmt%3Akev%3Amtx%3Actx&rft_dat=document_id%3Anews%252F0EB0F18B601216CB|via=NewsBank}}</ref> On December 2, 1997, the arena held its first event, a game between the Wizards and the [[Seattle SuperSonics]], with President [[Bill Clinton]] in attendance.<ref>{{cite news |last1=Dinan |first1=Stephen |last2=Mizejewski |first2=Gerald |name-list-style=and |date=December 3, 1997 |title=First night in a new home |work=The Washington Times |url=https://infoweb.newsbank.com/apps/news/document-view?p=AWNB&docref=news/0EB0F2C779FC5991&f=basic |access-date=September 5, 2023 |via=NewsBank}}</ref> The arena had a {{convert|25000|ft2|adj=on}} [[Discovery Channel Store]] from 1998 to 2001<ref>{{cite news|last=McNeil |first=Martha |url=https://www.washingtonpost.com/archive/business/2001/08/31/discovery-to-shut-down-store-at-mci-center/42bd0073-167d-437d-bbad-0ef1e338af07/ |title=Discovery to Shut Down Store at MCI Center |newspaper=The Washington Post |date=August 31, 2001 |access-date=February 16, 2022}}</ref> and the MCI National Sports Gallery, an interactive sports museum with interactive games, memorabilia, and the American Sportscasters Hall of Fame inside from 1998 to 2000 or 2001 which was repurposed for office space. Clinton toured the gallery before the game, playing the museum games.<ref>{{cite web |date=January 17, 2014 |title=Former Arlington Judge, Baseball Historian Dies &#124; WTOP News |url=https://wtop.com/news/2014/01/former-arlington-judge-baseball-historian-dies |access-date=February 16, 2022 |publisher=Wtop.com}}</ref><ref>{{cite web|url=https://www.washingtonpost.com/wp-srv/sports/longterm/general/mciarticles/arena3a.htm |title=An Opener to Behold at MCI Center |work=washingtonpost.com |date=December 3, 1997 |access-date=February 16, 2022}}</ref><ref>{{cite web|url=http://www.americansportscastersonline.com/halloffame.html |title=Hall of Fame |publisher=Americansportscastersonline.com |date= |access-date=February 16, 2022}}</ref> A block of F Street NW between 6th and 7th Street NW outside the arena was declared Fun Street, complete with signage.<ref>{{cite web|url=https://www.washingtonian.com/2021/12/16/a-mini-encyclopedia-of-90s-washington/#MCI-Center|title=A Mini Encyclopedia of '90s Washington|date=December 16, 2021}}</ref><ref>{{cite web|url=https://cazort.net/photos/fun-street-sign |title=Fun Street (F Street) Sign in Washington, DC – Photos on |publisher=Cazort.net |date=May 28, 2002 |access-date=February 16, 2022}}</ref> This block later was declared Abe Pollin Way in 2007.<ref>{{cite web|url=https://www.nba.com/wizards/news/Abe_Pollin_Bio-44212-56.html |title=Washington Wizards Owners Irene & Abe Pollin &#124; Washington Wizards |work=Nba.com |date=May 10, 2002 |access-date=February 16, 2022}}</ref> The arena was noted for building spectator seats vertically rather than out, creating better views for all attending albeit with limited leg room in the upper levels, as well as spacious quarters for players and coaches with advanced competitive research technology.<ref>{{cite news |last=Wilbon |first=Michael |author-link=Michael Wilbon |date=November 14, 1997 |title=A Center That Deserves Attention |url=https://www.washingtonpost.com/archive/sports/1997/11/14/a-center-that-deserves-attention/305a9426-cfd0-437e-b307-1a8309afca03 |access-date=September 5, 2023 |newspaper=[[The Washington Post]]}}</ref> The arena concourse featured multimedia arenaNet stations where fans could check scores, watch highlights, and send digital postcards over email.<ref>{{cite web | url=http://www.knowledgeway.org/news/98stories/new9801.html#mci | title=January 1998 Stories|website=Knowledgeway.org }}</ref><ref>{{cite web |last=Morgan |first=Jon |date=December 2, 1997 |title=Future is now at MCI Center Arena: The attractions only start with the Wizards and Capitals at Washington's 21st century sports and entertainment complex. |url=https://www.baltimoresun.com/news/bs-xpm-1997-12-02-1997336112-story.html |access-date=September 5, 2023 |website=Baltimoresun.com}}</ref> These replaced an abandoned idea to have smart seats with televisions and technology that was scrapped due to technological challenges.<ref>{{cite web | url=https://www.sportsbusinessjournal.com/Daily/Issues/1996/11/11/Facilities-Venues/POLLIN-ALTERS-PLAN-ON-PROVIDING-SMART-SEATS-AT-MCI-CENTER.aspx | title=Pollin Alters Plan on Providing "Smart Seats" at Mci Center|website=Sportsbusinessjournal.com }}</ref> Arena technology was powered by a virtual LAN software and switching technology called ArenaNET from [[Cabletron Systems]].<ref>{{cite web|url=https://www.bizjournals.com/washington/stories/1998/01/19/focus5.html|title=MCI Center technology shoots for new standard |website=Bizjournals.com|access-date=May 30, 2022}}</ref>

In 1999, a group led by technology executive [[Ted Leonsis]] bought a 36% stake in Pollin's holdings, including the MCI Center, as well as full ownership of the Capitals.<ref>{{cite news|title=Pollin sells part of sports empire|work=The Baltimore Sun|last=Bembry|first=Jerry |date=May 13, 1999|accessdate=September 5, 2023|url=https://infoweb.newsbank.com/apps/news/document-view?p=AWNB&docref=news/0EB3208021A47998&f=basic|via=NewsBank}}</ref><ref name=fisher>{{cite news|title=Leonsis gains more control|work=The Washington Times|last=Fisher|first=Eric |date=January 12, 2000|accessdate=September 5, 2023|url=https://infoweb.newsbank.com/apps/news/document-view?p=AWNB&docref=news/0EB08BC151720159&f=basic|via=NewsBank}}</ref> The Leonsis group increased its stake to 44% in 2000.<ref name=fisher/>

[[File:Verizon Center wide.jpg|250px|thumb|left|Capital One Arena, then the Verizon Center, in August 2008]]
In January 2006, [[Verizon Communications]] purchased MCI and the arena's name was changed accordingly to '''Verizon Center'''.<ref name="espn"/> VIDA Fitness opened its first location in the arena that same year.<ref>{{cite web|url=https://washingtoncitypaper.com/article/202488/gym-nauseam-does-dcs-new-wealth-explain-the-boutique-fitness/|title=Gym Nauseam|website=Washingtoncitypaper.com|date=October 3, 2014}}</ref> The following year, in 2007, the "first true indoor high-definition [[LED]] [[scoreboard]]" was installed in the arena.<ref>{{cite web|title=Verizon Center Shows off "First True Indoor HD LED Scoreboard"|url=http://hdtv.engadget.com/2007/09/28/verizon-center-shows-off-first-true-indoor-hd-led-scoreboard/|work=Engadget|date=September 28, 2007|access-date=November 11, 2011|archive-url=https://web.archive.org/web/20110723192558/http://hdtv.engadget.com/2007/09/28/verizon-center-shows-off-first-true-indoor-hd-led-scoreboard/|archive-date=July 23, 2011}}</ref><ref>{{cite news |title=Verizon Center Marks 10th Anniversary|first=David|last=Nakamura|url=https://www.washingtonpost.com/wp-dyn/content/article/2007/12/01/AR2007120101486.html|newspaper=[[The Washington Post]]|date=December 2, 2007|access-date=January 17, 2014}}</ref> In May 2024, VIDA Fitness announced that they would close their Gallery Place location.<ref>{{Cite web |date=2024-05-13 |title=Urban Adventures Companies Announces Major Expansion at VIDA Fitness City Vista Location |url=https://www.businesswire.com/news/home/20240513135138/en/Urban-Adventures-Companies-Announces-Major-Expansion-at-VIDA-Fitness-City-Vista-Location |access-date=2024-05-14 |website=www.businesswire.com |language=en}}</ref> Gallery Place, a 14-screen movie theater, opened at Capital One Arena in 2004.

In June 2010, following Pollin's death in November 2009, the Leonsis group, newly organized as [[Monumental Sports & Entertainment]], bought out Pollin's interests, gaining full ownership of the arena and the Wizards.<ref name=heath>{{cite news|title=Leonsis holdings under new Monumental Sports include Wizards, Verizon Center|newspaper=The Washington Post|last=Heath|first=Thomas |date=June 10, 2010|url=https://www.washingtonpost.com/wp-dyn/content/article/2010/06/10/AR2010061002827.html|access-date=July 17, 2021}}</ref>

A report emerged in May 2015 that Verizon would not renew its naming rights to the Verizon Center when its agreement with Monumental was to end in 2018.<ref>{{cite news |last=Hobson |first=Will |date=May 19, 2015 |title=Verizon still mulling whether to renew naming rights to Verizon Center |newspaper=[[The Washington Post]] |url=https://www.washingtonpost.com/news/dc-sports-bog/wp/2015/05/19/verizon-still-mulling-whether-to-renew-naming-rights-to-verizon-center |access-date=September 5, 2023}}</ref><ref>{{cite web|title=Report: Verizon will not renew arena naming rights|url=http://www.wusa9.com/story/news/local/dc/2015/05/18/verizon-center-naming-rights-washington/27551269/|publisher=WUSA9}}</ref> In the same week, it was announced that [[Etihad Airways]] signed a deal to become the official airline of the arena, sparking speculation that Etihad might be the leading contender to assume naming rights in 2017.<ref>{{cite web |last=Clabaugh |first=Jeff |date=May 11, 2015 |title=Monumental Sports & Entertainment teams with international airline in sponsorship deal |url=https://www.bizjournals.com/washington/morning_call/2015/05/monumental-sports-entertainment-teams-with.html |access-date=September 5, 2023 |website=Washington Business Journal}}</ref> However, on August 9, 2017, it was announced that the bank [[Capital One]] had purchased the rights, renaming the venue Capital One Arena.<ref>{{cite press release |title=MSE and Capital One Announce New Arena Naming Rights Partnership |url=https://www.nba.com/wizards/mse-and-capital-one-announce-new-arena-naming-rights-partnership |publisher=Washington Wizards |date=August 9, 2017 |access-date=September 5, 2023 |last=Raim |first=Jacob}}</ref><ref>{{cite press release|title=MSE and Capital One Announce New Arena Naming Rights Partnership|url=https://www.nhl.com/capitals/news/capital-one-arena/c-290624478|publisher=Washington Capitals|date=August 9, 2017|access-date=September 29, 2017}}</ref><ref>{{cite news |last=Steinberg |first=Dan |date=August 9, 2017 |title=Verizon Center to become Capital One Arena, starting now |newspaper=[[The Washington Post]] |url=https://www.washingtonpost.com/news/dc-sports-bog/wp/2017/08/09/verizon-center-to-become-capital-one-arena-starting-now |access-date=September 29, 2017}}</ref> In October 2024, it was revealed that Etihad Airways is no longer the official airline for Capital One Arena as [[United Airlines]] (which operates a hub at [[Washington Dulles International Airport|Dulles International Airport]]) was chosen as the new official airline.<ref>{{cite web|url=https://www.sportstravelmagazine.com/united-airlines-to-become-part-of-capital-one-arena-updates-in-downtown-d-c/ |title=United Airlines to Become Part of Capital One Arena Updates in Downtown D.C. |website=spoprtstravelmagazine.com |publisher=Sports Travel Magazine |author=Matt Traub |date=October 1, 2024 |access-date=October 18, 2024}}</ref>
[[File:Washington Capitols VS New York Rangers game.jpg|thumb|Interior during a Capitals game in February 2023. The overhead video board was installed in 2019 as part of the largest renovation in arena history.]]

In 2019 and 2020, Monumental Sports undertook a $30 million renovation of the arena. This included completely replacing the arena's seating, improving the concourse, and altering many of the arena's dining options. A new, larger overhead video board was also added as well as a new SkyRing video screen that goes around the top of the arena.<ref>{{cite news |last=Katishi |first=Maake |date=December 8, 2019 |title=Take a look at the big upgrades at Capital One Arena |newspaper=Washington Business Journal |url=https://www.bizjournals.com/washington/news/2019/12/09/take-a-look-at-the-big-upgrades-at-capital-one.html |access-date=September 5, 2023}}</ref><ref>{{Cite web |date=October 30, 2019 |title=Capital One Arena introduces visual entertainment revolution powered by Colosseo |url=https://www.colosseoeas.com/news/capital-one-arena-introduces-visual-entertainment-revolution-powered-by-colosseo |access-date=September 5, 2023 |website=Colosseoeas.com}}</ref>

In July 2020, bookmaker [[William Hill (bookmaker)|William Hill]] opened a [[sportsbook]] at the arena, following the 2018 legalization of sports betting in Washington.<ref name="maese">{{cite news |last=Maese |first=Rick |date=July 31, 2020 |title=D.C.'s first sportsbook opens at Capital One Arena |newspaper=The Washington Post |url=https://www.washingtonpost.com/sports/2020/07/30/capitol-one-sportsbook-temporary-coronavirus |access-date=September 5, 2023}}</ref> It was the first brick-and-mortar sportsbook in the District, and the first to open at a professional sports venue in the United States.<ref name=maese/>

On June 23, 2023, ''[[The Washington Post]]'' reported that Monumental Sports was considering moving the Capitals and Wizards to a new arena in the [[National Landing]] area of [[Arlington County, Virginia|Arlington]] in [[Northern Virginia]] if the Washington, D.C. government did not invest in upgrades to the arena and surrounding area. Despite this, the article outlined that the city intended on continuing its dialogue with the company to keep both teams in Capital One Arena.<ref>{{cite news |last1=Fortier |first1=Sam |last2=Brice-Saddler |first2=Michael |last3=Wallace |first3=Ava |last4=Dougherty |first4=Jesse |last5=Flynn |first5=Meagan |date=June 23, 2023 |title=As D.C. eyes Commanders, tension with the city's other pro teams simmers |newspaper=The Washington Post |url=https://www.washingtonpost.com/sports/2023/06/23/monumental-nationals-dc-bowser |access-date=September 5, 2023}}</ref> Monumental later pivoted to a part of the National Landing area lying in a different Northern Virginia jurisdiction, announcing on December 13, 2023, that it planned to build the new arena in the [[Potomac Yard]] area of [[Alexandria, Virginia|Alexandria]].<ref>{{Cite web |title=Owner of Washington Wizards and Capitals plans to leave D.C. for Virginia |url=https://www.usatoday.com/story/sports/2023/12/12/washington-wizards-capitals-virginia-relocation-possible/71900930007/ |first=Jeff |last=Zillgitt |website=USA Today |date=December 13, 2023 |access-date=December 13, 2023}}</ref> Under the revised plan, Capital One Arena would have remained in use as a concert and event venue during the NBA and NHL seasons, and also become the permanent home of Monumental's [[Women's National Basketball Association]] (WNBA) team, the [[Washington Mystics]].<ref>{{cite press release |url=https://monumentalsports.com/2023/12/monumental-sports-to-partner-with-virginia-and-regional-leaders-on-a-proposed-business-expansion-to-alexandria/ |title=Monumental Sports to Partner with Virginia and Regional Leaders on a Proposed Business Expansion to Alexandria |publisher=Monumental Sports & Entertainment |date=December 13, 2023 |access-date=December 14, 2023}}</ref> In March 2024, after officials in Alexandria announced that the $2 billion entertainment and sports complex plans were scrapped, Washington, D.C. mayor [[Muriel Bowser]] announced that she had signed a deal with both teams' majority owner, Ted Leonsis, to keep the Capitals and Wizards in the District "at least until 2050."<ref>{{cite web |last1=DiMargo |first1=Carissa |title=Washington Wizards, Capitals make deal to stay in DC after Alexandria plan is scrapped |url=https://www.nbcwashington.com/news/local/northern-virginia/monumental-move-dead-caps-wizards-not-moving-to-alexandria/3577653/ |website=NBC4 Washington |access-date=March 29, 2024 |date=March 27, 2024}}</ref> The deal will see a massive renovation to the arena which will be completed by 2028 in six phases, changing the exterior and interior that will include new technology and improved fan experiences.<ref>{{cite web |last1=Ridley |first1=Rob |title=MSE to create ‘monument’ out of Capital One Arena |url=https://www.thestadiumbusiness.com/2024/12/20/mse-to-create-monument-out-of-capital-one-arena/ |website=TheStadiumBusiness |access-date=20 December 2024 |date=20 December 2024}}</ref>
[[File:Middletown High School in Ohio Presidential Inauguration 2025.jpg|thumb|Students from [[Middletown High School (Ohio)|Middletown High School]] in Ohio march at an indoor Presidential Inauguration parade event in Washington on Monday, Jan. 20, 2025.]]
Capital One Arena is in the early stages of a multi-year $850 million renovation that will completely alter the exterior and parts of the interior of the arena. $515 million is coming from the District of Columbia government, while the rest is being paid for by [[Monumental Sports and Entertainment]], which owns the teams. The renovation is expected to be completed in time for the start of the 2027-2028 NHL and NBA seasons.<ref>{{cite web |title=Where Monuments Meet Momentum: Work Officially Begins on a Brand-New Capital One Arena to Deliver a World-Renowned Destination with an Iconic, Grand Exterior |url=https://monumentalsports.com/2024/12/where-monuments-meet-momentum-work-officially-begins-on-a-brand-new-capital-one-arena-to-deliver-a-world-renowned-destination-with-an-iconic-grand-exterior/ |website=Monumental Sports and Entertainment|access-date=January 20, 2025}}</ref>

The indoor parade of the [[second inauguration of Donald Trump]] took place in the arena on January 20, 2025.<ref>{{cite web | last=Cervantes | first=Fernando Jr. | title=Who is performing at the presidential parade? What else to know. | website=USA TODAY | date=2025-01-20 | url=https://www.usatoday.com/story/news/politics/2025/01/20/presidential-parade-performing-inauguration-day/77783717007/ | access-date=2025-01-21}}</ref>