CAPS/WIZARDS TO VIRGINIA ... DON'T HOLD YOUR BREATH
So … plans for the new 20,000-seat home in Alexandria for the NHL Capitals and NBA Wizards call for Virginia’s share ($1.4 billion) to be paid via the sale of bonds … which supposedly means taxpayers won’t have to foot as much as a penny of the bill. Get serious! Of course, they/we will … if not directly for the facility then for costs Gov. Glenn Youngkin , in his zeal for bringing major-league sports to the state for the first time, failed to mention. Say like … as much as $200 million “in transportation improvements for the project,” according to The Washington Post. Whatever that means. In all, the $2 billion deal includes creating a mixed complex on 12 acres at Potomac Yards next to the Potomac River. The land is to be sold to a Virginia stadium authority which will issue the bonds scheduled for repayment in about 40 years from such things as rental, income taxes on athletes and team officials as well as ticket sales and o...