Capital One Arena

The block where the arena was built, between 6th and 7th and F and G Streets, historically held a mix of residences and small businesses.[9] By the 1960s, it was suffering from urban decay, like much of the eastern end of Downtown Washington.[9] In 1973, while the Gallery Place Metro station was being developed below it, the District government bought the land in hopes of redeveloping it.[10] Capital Landmark Associates was selected in 1979 to develop the site with a planned mixed-use complex including retail, offices, apartments, and a hotel.[10] Most of the remaining buildings on the site were demolished in 1985.[9] The project languished for many years but never materialized, and was finally canceled in 1992.[9]

Before the arena's opening, the Capitals and the Wizards (then known as the Washington Bullets) played at USAir Arena in the Washington suburb of Landover, Maryland. The teams experienced subpar attendance because the location was inconvenient for both Washington and Baltimore residents, and their arena, though only 20 years old, was not up to the standards of other NBA and NHL venues.[11][12][13] In December 1993, Abe Pollin, the owner of both teams, began studying options to move the teams to a new arena to be built with public financing, with possible locations including Baltimore, downtown Washington, and Laurel, Maryland.[14][15]

The arena in 2006, then known as MCI Center.

A group of Washington business leaders brokered a deal between Pollin and the District government to build an arena at the Gallery Place site, with the District paying for the $150-million project, which was envisioned to have shopping, food, and exhibitors for daily use even when there was no arena event.[16][17][18] The D.C. Council approved a special tax on businesses to finance the deal.[18] However, a competing proposal soon emerged, when Robert Johnson, head of Black Entertainment Television, offered to build the arena with mostly private financing.[19] With the arena deal facing criticism amid the District's budget crisis, Pollin eventually agreed to privately fund the construction of the building, which ultimately came to $200 million[20][21] (US$316 million in 2020 dollars[3]). The District would pay for other costs, including purchasing the portion of the land it did not already own, preparing the site, and expanding the Metro station; these eventually amounted to $79 million[21][22] (US$119 million in 2020 dollars[3]). The District leased the land to Pollin at a below-market rate of $300,000 per year.[23][24]

A naming rights deal was struck with MCI Communications to name the arena as the MCI Center.[25] The groundbreaking ceremony for the project was held in October 1995.[26] On December 2, 1997, the arena held its first event, a game between the Wizards and the Seattle SuperSonics, with President Bill Clinton in attendance.[27] The arena had a 25,000 square foot Discovery Channel Store from 1998 to 2001[28] and the MCI National Sports Gallery, an interactive sports museum with interactive games, memorabilia, and the American Sportscasters Hall of Fame inside from 1998 to 2000 or 2001 which was repurposed for office space. Clinton toured the gallery before the game, playing the museum games.[29][30][31][32] A block of F Street NW between 6th and 7th Street NW outside the arena was declared Fun Street, complete with signage.[33][34] This block later was declared Abe Pollin Way in 2007.[35] The arena was noted for building spectator seats vertically rather than out, creating better views for all attending albeit with limited leg room in the upper levels, as well as spacious quarters for players and coaches with advanced competitive research technology.[36] The arena concourse featured multimedia arenaNet stations where fans could check scores, watch highlights, and send digital postcards over email.[37][38] These replaced an abandoned idea to have smart seats with televisions and technology that was scrapped due to technological challenges.[39] Arena technology was powered by a virtual LAN software and switching technology called ArenaNET from Cabletron Systems.[40]

In 1999, a group led by technology executive Ted Leonsis bought a 36% stake in Pollin's holdings, including the MCI Center, as well as full ownership of the Capitals.[41][42] The Leonsis group increased its stake to 44% in 2000.[42]

Capital One Arena, then the Verizon Center, in 2008

In January 2006, Verizon Communications purchased MCI and the arena's name was changed accordingly to Verizon Center.[8] VIDA Fitness opened its first location in the arena that same year.[43] The following year, in 2007, the "first true indoor high-definition LED scoreboard" was installed in the arena.[44][45]

In June 2010, following Pollin's death in November 2009, the Leonsis group, newly organized as Monumental Sports & Entertainment, bought out Pollin's interests, gaining full ownership of the arena and the Wizards.[46]

A report emerged in May 2015 that Verizon would not renew its naming rights to the Verizon Center when its agreement with Monumental was to end in 2018.[47][48] In the same week, it was announced that Etihad Airways signed a deal to become the official airline of the arena, sparking speculation that Etihad might be the leading contender to assume naming rights in 2017.[49] However, on August 9, 2017, it was announced the bank Capital One had purchased the rights, renaming the venue Capital One Arena.[50][51][52]

In 2019 and 2020, Monumental Sports and Entertainment Network undertook a $30 million renovation of the stadium. This included completely replacing the arena's seating, improving the concourse, and altering many of the arena's dining options. A new, larger overhead video board was also added as well as a new SkyRing video screen that goes around the top of the arena.[53][54]

In July 2020, bookmaker William Hill opened a sportsbook at the arena, following the 2018 legalization of sports betting in Washington.[55] It was the first brick-and-mortar sportsbook in the District, and the first to open at a professional sports venue in the United States.[55]

The arena is a major location for concerts and cultural events in the D.C. region. Among the musical performers, cultural figures, and entertainment shows that have performed at the arena are Mariah Carey, Paul McCartney, U2, Iron Maiden, Lady Gaga, Madonna, the Three Tenors, Drake, Barbra Streisand, Bon Jovi, Prince, Tim McGraw, Faith Hill, Beyoncé, the Dalai Lama, Tina Turner, Keith Urban, Paul Simon, Sting, Taylor Swift, Tyler, the Creator, Elton John, Usher, Green Day, the Who, Bad Bunny, Billie Eilish, Dua Lipa, and Disney on Ice.

The Washington International Horse Show takes place every October in the arena.

• 
  A Washington Wizards game
• 
  A Washington Capitals game
• 
  A Washington Valor game
• 
  The final of the Atlantic 10 men's basketball tournament in 2018
• 
  WWE Monday Night Raw in the arena in 2014
• 
  A Justin Timberlake concert in 2020
• 
  Banners of retired numbers and team accomplishments for the Capitals
• 
  A satellite view of the arena in 2008

• List of NCAA Division I basketball arenas
• List of National Hockey League arenas
• List of National Basketball Association arenas