That sounds fantastic. I am really proud to announce today that two local, homegrown companies are teaming up to continue to provide the best fan experience in the country at Capital One Arena in downtown Washington, DC.
When it came to identifying a company to have its name on our arena, I am thrilled that the end result meant deepening our relationship with one of our longstanding partners, Capital One. A diversified bank that’s been integral to our community since 1988, Capital One shares our commitment to economic growth, philanthropy and community here in the DMV. At MSE, we employ almost 4,000 fulltime and part-time employees and vendors. We are economic drivers in our region, and we work every day toward the economic success of our hometown.
It was also critical to us to partner with another company that counts philanthropic investment and community work as one of their core corporate values – and Capital One shares MSE’s commitment and the belief that our businesses can be successful only when our local communities are healthy and vibrant. In 2016, Capital One associates spent more than 390,000 hours in volunteer service, helping more than 4,000 nonprofit and community agencies in the Greater Washington area. Capital One also provided $48.1 million in grants to nonprofit organizations that help build economic opportunity in communities where our associates and customers live and work.
In addition to a new name, today I’m also pleased to announce that Monumental is making a separate, independent $40 million investment in Capital One Arena, to help ensure that we continue to deliver one of the best fan experiences in the country. Part of this investment includes further developing cutting-edge technology that allows us to better serve our fans. Our new Monumental360 program, for example, will provide us with data that will give us a better understanding of our fans’ preferences and interests, which will allow us to deliver an improved and more personalized fan experience. A new point-of-sale system will have many benefits and is designed to create a swifter, smoother experience in the arena. The new system also will allow us to do creative things like provide concession and merchandise discounts for those with a Capital One credit card.
Capital One Arena is one of the few privately-owned arenas in the country, and throughout its ownership, MSE has made over $100 million in investments to ensure the arena remains a best-in-class facility. I’m pleased to say we are making a further down payment on that commitment with this announcement today.
Capital One is putting their impressive name on a continually-evolving venue that hosts four major league sports franchises, college basketball, concerts, family shows and special events – all in all, we average about 220 events per year. In 2016, Billboard Magazine ranked the arena 8th in the nation and 13th worldwide among top-grossing venues with a capacity of over 15,000. In the coming months, Capital One Arena will host some of the biggest tours in the world including Bruno Mars, Ed Sheeran, Guns n’ Roses, Andrea Boccelli, Jay-Z and many more. It will also host the A-10 men’s basketball tournament in March of 2018 and the East regionals of the 2019 NCAA men’s basketball tournament.
This latest partnership with Capital One and the announcement of our investment today are two more major milestones in what has been a year of significant growth and expansion for Monumental Sports & Entertainment, including:
· launching Monumental Sports Network, our OTT platform
· agreeing to a new TV rights deal and equity partnership with CSN
· welcoming NBC Sports Group as an investor in our Monumental Sports Network
· investing in Team Liquid, one of esports’ top franchises
· kicking off seasons for the AFL’s Washington Valor and Baltimore Brigade
· purchasing a NBA G League team
· continuing development of plans for Ward 8’s St. Elizabeths entertainment and sports arena.
It’s an exciting time for our company, and we are happy that Capital One will be an even bigger part of our rapid growth as we move forward.
There is an incredible uniqueness to Washington, D.C.: a center for global influence and a platform for business-to-business and business-to-government connections, offering opportunities that can’t be replicated anywhere else. We’re proud to call it home.
We are sports. We are entertainment. We are media. We are technology. And we strive to deliver memorable experiences for all of our Capital One Arena guests.
See you soon.