D.C. Mayor Muriel Bowser has proposed legislation "to buy Capital One Arena" for $87.5M. The $87.5M is part of a $515M deal, which "would all be put toward upgrades and improvements to the arena," according to the proposed legislation and sources. The proposal would be the arena "be leased back to" Monumental Sports & Entertainment for $1.3-$2.5M a year through 2050. The arena would also "be exempt from taxes," according to sources (NBCWASHINGTON.com, 10/21).
D.C. mayor proposes buying Capital One Arena
