The parent company of the Washington Wizards has held talks with Virginia government officials about building an arena in Northern Virginia near Amazon's new HQ2.

The discussions are described as preliminary and exploratory.

Capital One Arena, which opened in 1997 in downtown Washington D.C., is in need of upgrades. In 2019, Monumental completed a $70 million renovation of Capital One Arena. 

Last week, Monumental sold a minority stake to the Qatari Investment Authority.