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Tom Sherwood broke news of the letter, which Schwalb's office provided to Axios.
- The AG argues that Monumental can't get out of the lease by prepaying its outstanding bond debt.
- Schwalb also says that $50 million in publicly financed improvements to the arena in 2007 hinged on a commitment to "extend the original ground lease for an additional 20 years … through 2047."
Zoom in: Schwalb says Monumental has also "broken other promises to the District" by "negotiating a preliminary agreement with Virginia."
- As Axios reported in December, the owner of the teams, Ted Leonsis, worked behind the scenes with Virginia Gov. Glenn Youngkin last year to hammer out the Alexandria deal.
- Schwalb writes that a separate 2017 agreement with the city requires Monumental to notify D.C. of its intent to leave town and "negotiate exclusively and in good faith with the District for a period of six months."
Schwalb urges Leonsis to meet with D.C. leaders.
- Mayor Muriel Bowser confirmed to Axios this week that the District's $500 million offer to modernize Capital One Arena remains on the table.
The other side: A spokesperson for Monumental referred Axios to previous comments that dispute the relocation would break its lease.
- "We would not have started negotiations with the city or Virginia over the last two years without sound legal counsel," Monica Dixon, Monumental's president of external affairs, said in February.