Ted Leonsis has reached a deal with Washington Mayor Muriel Bowser to keep the Washington Wizards and Washington Capitals at Capital One Arena in downtown Washington DC through at least 2050.

Leonsis signed a letter of intent late Wednesday afternoon formalizing an agreement between his parent company, Monumental Sports and Entertainment, and the city.

The deal comes after attempts to build a new arena in Alexandria, Virginia failed to pass the state's legislature. 

“We made tons of mistakes,” Leonsis said Wednesday night when asked whether Monumental had made errors since the December announcement about Potomac Yard. “But we manage to outcomes, and the outcome is exactly the right one.”

Bowser said: “We are the current home, and the future home, of the Washington Capitals and Washington Wizards.”

Monumental will receive $500 million in cash from the city to renovate Capital One Arena. 

Leonsis said on Wednesday that he had been surprised by the criticism of moving the Wizards les than four miles from Capital One Arena to Potomac Yard. 

Leonsis said he considers the District, suburban Maryland and suburban Virginia “one community” and noted that the Capitals and Wizards used to play in Landover, Md., at Capital Centre before the teams moved to downtown Washington.

Ted Leonsis met with Maryland Governor Wes Moore to discuss the possibility of relocating the Washington Wizards and Washington Capitals to the state.

Leonsis had planned to move the teams to a new arena and entertainment district in Virginia, but that plan has stalled after key lawmakers blocked it from the state's budget.

Leonsis and Virginia Governor Glenn Youngkin released plans in December for a $2 billion, 12-acre mixed-use complex. 

Leonsis is attempting to move the teams out of downtown Washington D.C. D.C. Mayor Muriel E. Bowser announced a late pushto keep the teams in the district in December with a deal that included $500 million in public funds.

No incentive package or deal has been put on the table in Maryland to lure the Capitals and Wizards to the state. 

The Baltimore Banner's report also indicates a deal between Leonsis and Maryland is "not likely."

Bilal Coulibaly will miss the remainder of the regular season after being diagnosed with a right wrist fracture.  

The injury, which will be treated conservatively, was suffered when Coulibaly fell during the team’s game on March 16 at Chicago.

The Washington Wizards selected Coulibaly with the seventh overall pick in the 2023 draft.

Partizan forward Tristan Vukcevic has reached a contract buyout agreement. Vukcevic, who turned 21 years old earlier this week, will continue his career in the NBA with the Washington Wizards, per Partizan team president Ostoja Mijailovic.

Vukcevic has played for Partizan for the last three seasons, after beginning his career with Real Madrid. In 30 total games this season, the 6-foot-10 forward has averaged 7.7 points in 14.4 minutes, mostly off Partizan's bench. Vukcevic has 54/43/84 shooting splits this season.

The Wizards drafted the Serbian/Italian dual-national with the 12th pick in the second round of the 2023 NBA Draft. Vukcevic appeared in four Summer League games for Washington last year. He averaged 11.7 points and 6.5 rebounds per game for the Summer Wizards.

The Washington Wizards signed Justin Champagnie to a Two-Way contract, sources told Chris Haynes of Bleacher Report.

The contract will extend over two years.

Champagnie was converted to the contract after signing a 10-day deal. 

The Washington Wizards have converted the Two-Way contract of forward Eugene Omoruyi to a standard NBA contract. 

In 27 games with Washington this season, Omoruyi is averaging 4.6 points and 2.1 rebounds in 7.6 minutes while shooting a career-best .490 from the field. The 6-7 forward has also appeared in 12 games (all starts) for the Capital City Go-Go, the Wizards’ NBA G League affiliate, averaging 20.2 points, 7.3 rebounds, 2.3 assists, and 1.4 steals while shooting .508 from the field.

Omoruyi holds career averages of 5.8 points and 2.5 rebounds in 71 games (six starts) over three seasons with Dallas, Oklahoma City, Detroit, and Washington.

The Oregon product originally signed a two-way contract with Washington on July 12, 2023.

Jordan Poole has three seasons and $95 million remaining on the four-year, $128 million extension he signed with the Golden State Warriors before the 22-23 season.

Zach Lowe writes that Poole's contract could be the "worst" one in the NBA.

The Warriors sent Poole and a protected 2030 first round pick to the Washington Wizards for the expiring contract of Chris Paul. The outlay the Warriors sent to the Wizards was a signal even then that Poole's contract was viewed as a net negative.

Poole is averaging just 16.3 points this season with a TS% of .513. When Poole had a breakout season in 21-22, he had a TS% of .598 while averaging 18.5 points.

Poole, who can be a free agent in 2027, is represented by Drew Morrison and Austin Brown.