According to Mark Segraves of WRC-TV, the D.C. government will propose buying Capital One Arena from Monumental Sports & Entertainment for $87.5 million.
What would happen is that the D.C. government, which already owns the land the arena is on, would now own the real estate on top of the land. It would also immediately lease back Capital One Arena to Monumental Sports for a payment between $1.5 to $2.3 million per year.
Monumental Sports is receiving $515 million in various upgrades to Capital One Arena, and Segraves also reported that this proposed Capital One Arena sale would also be part of that.