Outgoing Republican Gov. Glenn Youngkin doesn’t have many regrets as he prepares to leave office. But he named the inability to get an Alexandria arena deal done in 2024 as one lost opportunity.

The Washington Capitals and Wizards arena would have gone in Potomac Yard as part of an entertainment district. But in March 2024, the City of Alexandria announced that the proposal wouldn’t be moving forward.

“One of the more frustrating moments was not being able to deliver the sports stadium deal in Northern Virginia,” Youngkin told Richmond-based WRIC’s Tyler Englander. “I’ve been told by many it was the best sports stadium deal they’ve ever seen, and it was compelling — 30,000 jobs, $12 billion in economic impact.”

Youngkin had been a strong proponent of the arena proposal, announcing it with Monumental Sports & Entertainment Chairman and CEO Ted Leonsis in late 2023. The proposal included moving the Washington Capitals and Washington Wizards from D.C., along with a practice facility, esports facility, performing arts venue and headquarters for D.C.-based Monumental Sports & Entertainment.

Youngkin, who leaves office tomorrow (Saturday) ahead of Gov.-elect Abigail Spanberger’s inauguration, placed blame for the debacle on Virginia Democrats.

“I think the General Assembly, particularly the Democratic-led Senate, made a terrible decision to block that,” said Youngkin. “I think it’s something that Virginians will miss out on, both experientially and economically forever.”

The proposal was doomed in the General Assembly, which would have needed to front state funds for the entertainment district. State Sen. Louise Lucas (D-18), who serves as the president pro tempore of the Virginia Senate, spearheaded a fight against the arena and kept it out of the Senate budget.

Lucas opposed the use of state taxpayer funds to support the development.

The entertainment district would have been funded by bonds issued by a state entity and investments from Monumental Sports & Entertainment, with bonds repaid through rent and revenues generated by the entertainment district. The City of Alexandria would have contributed funds for a performing arts venue and a parking facility.

After the arena deal in Virginia fell apart, Leonsis and D.C. Mayor Muriel Bowser announced a plan to keep the teams in D.C. until at least 2050 and make updates to the existing arena.

Spanberger will be inaugurated tomorrow as Virginia’s 75th governor and first woman to fulfill the role.