WASHINGTON D.C. (CelebrityAccess) — The City of Washington D.C. is soliciting bids for a study on developing plans to support professional sports teams in the city, including the potential construction of a brand-new stadium.
The study will examine potential models for financing new and existing sports facilities and to measure the economic impact of sports and entertainment venues in the district, according to a statement from the Deputy Mayor’s Office for Planning and Economic Development.
Included in the proposed study will be analysis and recommendations on financing a new stadium, or stadium rehabilitation or maintenance for the following District sports and entertainment venues: Capital One Arena, RFK Stadium, Nationals Stadium, Audi Field, and Carter Barron.
As part of the study, the contractor will be required to provide a comparative analysis that examines the financing used for sports venues in other cities, including private investment, and league financing, as well as public-private partnerships.
The report will also study revenue sharing agreements and the economic impact of such deals in generating growth and expanding the tax base for cities. Like many major urban centers in the U.S., Washington D.C. has seen a decline in the wake of COVID-19. According to the D.C. Policy Center, Washington saw a net loss of 20,043 in 2021, representing a net loss of about 3% of the city’s population.
“DC is the Sports Capital because of our teams, our fans, and the athletes – our professional athletes and our young all stars – who have helped build a community and culture of sports in the District,” Mayor Bowser said in a statement provided to the Washington Post. “We know how important sports are to our city and particularly for DC’s Comeback, and we are focused on exploring creative strategies to support our sports teams and their needs. We’re looking for an outstanding and innovative partner that will work with our DMPED Sports Team and provide recommendations that are tailored to our city’s unique needs and sports landscape.”
According to the Post, the proposed study follows talks in recent weeks between Monumental Sports & Entertainment, the organization behind the Washington Capitals ice hockey team and the Washington Wizards about relocating both teams to nearby Virginia.
