A deal that's been years in the making to bring a National Football League stadium back to Washington D.C. took a giant step forward with a $3.7 billion project proposal that would tap at least $500 million of public money.
"When we got control of 180 acres of land on the banks of the Anacostia, we knew right away that partnering with the Commanders would be the fastest and surest route to bringing the RFK campus to life," said Washington, D.C. Mayor Muriel Bowser.
"As we focus on the growth of our economy, we're not only bringing our team home, but we're also bringing new jobs and new revenue to our city and to Ward 7."
The mayors' comments came during a press conference on Monday that also included Roger Goodell, Commissioner of the NFL and Josh Harris, managing partner of the Washington Commanders.
"Working hand-in-hand with District and community leaders, we're focused on delivering an incredible home for our players and fans, creating a landmark venue that reflects the pride of our nation's capital, and sparking a new era of economic opportunity across the DMV," said Harris while employing an acronym for "District, Maryland, Virginia."
The framework of the deal includes the Commanders putting up at least $2.7 billion to build a roofed stadium that can be used year-round for 200 other yearly events beyond football games.
The city would own the stadium and lease it back to the team with a 30-year term. The city would be on the hook for $500 million to fund stadium horizontal and non-vertical costs from the Sports Facilities Fee which used to be called the Ballpark Fee.
The final tab for city taxpayers could be as high as $1.1 billion depending on additional improvements to infrastructure, parking, and recreational areas.
By leveraging dedicated funds from the Sports Facilities Fee, the District will not need to make any cuts from the city's operating budget, which is currently under duress thanks to
The city would also facilitate parking development using a $175 million revenue bond, which will be funded by in-stadium activity once the stadium is operating.
Events DC, the city's sports authority will contribute up to $181 million for parking garages near the community recreation facilities, which Events DC will own.
To ease concerns the city is touting the financial success of Nationals Park, home to Major League Baseball's Washington Nationals which was finished in 2008 and partially financed with $535 million of munis.
According to the city, "D.C. is on track to pay off Nationals Park construction bonds in fiscal year 2026, ten years ahead of schedule."
The city is trying to avoid the controversy of using public money to help finance new sports facilities serving billionaire team owners by noting the public investment for the Commander's new stadium and parking development would only comprise 24% of the project's total budget.
According to figures from Convention Sports and Leisure International, new stadium projects in Tennessee, Buffalo and Jacksonville are calling for municipalities to pay for at least 49% of the stadia and parking development fees. The average for NFL stadiums is just over 40%.
The city is also planning on leveraging a newer economic development
The stadium and the surrounding businesses are expected to generate $4 billion in tax revenue.
The city is pushing the project onto the fast track with a groundbreaking slated for the fall of 2026 and a stadium opening in 2030.
Before all that can happen, the City Council needs to sign off on the terms as Council Chairman Phil Mendelson is already pushing back on the mayor's request to have an approval before July 15.
The mayor is expected to include more details about the public finance arrangements in her 2026 budget which is delayed due the Congressional situation.
