Under the proposal, the city, which already owns the land under the arena, would buy the building for $87.5 million.

D.C. Mayor Muriel Bowser has submitted a new bill to the D.C. Council to transfer ownership of Capital One Arena, home of the Washington Capitals and Wizards, to the city, WTOP has learned.

A new proposal from D.C. Mayor Murial Bowser would keep the Washington Wizards and Capitals playing at Capital One Arena through at least 2050.