From Fortune Magazine:

Virginia advocates for a new professional sports arena and entertainment district say it will be a major job creator. Critics argue it’s an extravagant handout to wealthy sports team owners. Lawmakers need to decide during 2024 legislative session. Alexander would commit $106 million for a performing arts venue and parking. Monumental would give $403 million. Sources say about $1 billion in bond revenue would be repaid by new tax revenues. Arena opponents argue that taxpayers would be on the hook if the project generates insufficient revenue. A former Alexandria council member shared that taxpayers would be funding the project. Opponents also question the projections of an economic windfall and hosting the public project funded party. With Republican legislators generally aligned with Governor Youngkin’s agenda and generally open to supporting the project, its final approval is far from certain. 33 years ago, Virginia tried to bring the NFL team to the same Potomac Yard site, but the deal collapsed.



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