MSE Capital One Arena business suite

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Capital One Arena with new kind of business suit Image: KPMG

The Monumental Sports & Entertainment (MSE) is opening a business suite in Washington’s (US) Capital One Arena that will be operational on a year-round basis.

‘The Washington Post’ stated that the group that owns the National Hockey League (NHL’s) Washington Capitals and the National Basketball Association (NBA’s) Washington Wizards revealed the project recently in conjunction with the professional services company KPMG. The team and company hopes the suite becomes a blueprint for other arenas around the United States.

The Monumental Sports & Entertainment (MSE), located in Washington, D.C. (US), is one of the largest integrated sports and entertainment companies in the country with one of the most diverse partnership groups in all of sports.

The 20,356-capacity Capital One Arena is an indoor arena in Washington, D.C. (US). Located in the Penn Quarter neighborhood, the arena sits atop the Gallery Place rapid transit station of the Washington Metro.

Said Monumental President of Business Operations and Chief Commercial Officer Jim Van Stone, “This is a game changer for the future. We’re taking up a facility space that was still operating for 200-plus events a year, three to four hours a day, and now they’re going to use it over 100 business days a year to develop business opportunities for them.”

KPMG Managing Partner Tim Gillis said he first considered the idea of using a suite year-round before the pandemic.

Added Gillis, “That’s premium real estate, but it’s only used, you know, 10 or 20 percent of the time. “So, maybe there’s a better way to use space like this. And I’m excited about the opportunity to do it.”

The suite was remodeled into what KPMG calls an “ignition center”, which is designed to make presentations and solve business problems. It’s expected to debut in July.

Monumental Chairman Ted Leonsis said in a statement, “This reinforces the notion that arenas play a central part in the business community’s ecosystem. We are now creating a new real estate category of shared workspace: Turning suites normally used a few hours per game day into workspace, all day and year-round.”

Sports marketing expert Bill Sutton said it’s time a business suite like this came to life and compared it to what the online payment system PayPal and telecommunications company Verizon have with the NBA team Phoenix Suns at their game arena and practice facility.

Sutton said, “It’ll change the business model.”

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