D.C. okays bigger signs at Verizon Center
By Thomas Heath,
Over the past year, Monumental Sports & Entertainment, led by majority owner Ted Leonsis, has been pushing for larger, attention-getting — and potentially lucrative — signs outside the Verizon Center.
Soon, the company will get its wish.
The District City Council approved legislation July 10 in a 10-0 vote allowing a total of nine permits for signs on the exterior of the Verizon Center.
Out: the current Geico video board.
In: Digital signs on the 7th Street NW façade and a wraparound sign on the corner of 7th and F streets NW. No digital signs are planned for 6th Street NW.
Monumental’s next step is to apply to the D.C. Department of Consumer and Regulatory Affairs for the permits, and then Leonsis & Co. are home free.
Leonsis made the case that the signs will bring in valuable revenue, which in turn will be used by his ownership group to put better teams on the ice and hardwood, for his NHL Capitals and NBA Wizards.
“It will generate substantial revenue for us that will go toward the operation of our teams and it will generate substantial tax revenue for the city” of $2 million a year, Leonsis said. “It will better enable us to compete with teams who play in municipally-funded stadiums and arenas.”
Leonsis compromised on key issues, such as turning the signs off at midnight, reducing the light intensity and agreeing not to allow tobacco products or political advertising.
The Buzz hears:
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Factoid of the Week
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