WASHINGTON — Verizon Center will be no more. Monumental Sports and Entertainment announced the Verizon Center will now be known as Capital One Arena.
New signs and a marketing campaign are planned for the fall.
Monumental will announce a separate $40 million investment in the arena, according to a YouTube video.
“Capital One is one of the most influential local businesses in our region over the last two decades, so we couldn’t be more pleased to partner with another homegrown company to create more incredible memories for sports fans, music fans, families and friends all across our region,” said Ted Leonsis, owner and Chief Executive Officer of Monumental Sports and Entertainment about the McLean, Virginia-based company.
“Capital One shares our deep commitment to both economic and philanthropic investment in the larger Washington, D.C. community and we look forward to working closely with them. We are also proud today to be announcing a significant investment by Monumental Sports and Entertainment to continue improving the arena experience for every fan who comes through our doors. We want every fan’s experience at Capital One Arena to be monumental,” Leonsis said, in a news release.
The venue hosts more than 220 concerts, shows and events a year.
“Monumental Sports and Entertainment shares our commitment to strengthening the economic and social well-being of the local community, and we are thrilled to partner with them on Capital One Arena,” said Kleber Santos, president of retail and direct Banking for Capital One, in a news release.
“Our collaboration will be great for the D.C. community, the fans who come to support their teams, the talent and events at the arena, and exceptional for our customers who will benefit from our ability to offer access to unique opportunities and experiences at the arena that money can’t buy,” Santos said.
The 20,500-seat sports arena, where the Washington Wizards, Washington Capitals and Washington Mystics play, has been known as Verizon Center since 2006.
Before that, when the arena opened in 1997, it was known as the MCI Center.
The arena helped revitalize the Chinatown area, bringing new businesses and restaurants to D.C.
The Wizards and Capitals played their home games at the Capital Centre in Landover, Maryland, before moving to D.C.