Capitals Reveal Controversial Plan to Raise Over Two Billion Dollars

The Washington Capitals are gearing up to build a potential new arena, and they have just released this controversial plan on how to fund it.

Washington Capitals Look to Employees Taxes to Fund New Arena

The Washington Capitals Ownership Group is well underway in trying to develop a new home for their team, along with the Wizards. The plans have the teams looking at a new home in suburban Virginia, as opposed to the current, downtown location that they call home.




Now, they have unveiled their new plan for how to fund the development. According to reports, they are considering a plan that would use funding from the corporate tax that businesses pay to operate at the arena, as well as the personal income tax paid by workers employed at those businesses. This proposal is a first of its kind.

Mayor Is Urging the Capitals to Stay in the Capital Despite Plans to Relocate

The Mayor of Washington, DC, has been on record as wanting the Capitals and the Wizards to stay in the heart of DC and has even proposed funding for a full-on arena renovation.


Clearly, the Mayor and the Ownership Group for the Capitals have different visions for where the Team will call home. However, the Capitals still have a major hurdle to overcome when it comes to funding their new arena development.

As seen on Bloomberg City Lab - "Virginia Pitches Unprecedented Arena Financing Source: Personal Income Taxes"