Featured image credit: Capital One Arena
Monumental Sports & Entertainment (MSE) has stepped up its association with KPMG, with the professional services firm set to play a key role in major renovation plans for Capital One Arena.
KPMG has been named MSE’s official consulting and advisory partner through a multi-year deal covering the entire Monumental enterprise. MSE is the parent company of Capital One Arena, along with the Washington Capitals (NHL) and Washington Wizards (NBA) franchises which call the Washington, D.C venue home.
KPMG will play a major role in both enhancing the fan experience and community impact of the current Capital One Arena. KPMG will also guide the wide-ranging technology transformation and modernisation of the arena and expansion of Monumental’s business and hospitality operations in downtown Washington, D.C.
Monumental’s expanded relationship with KPMG will involve reimagining the entire fan experience and journey for all guests who come through Capital One Arena’s doors. KPMG will also establish a world-class technology platform to deliver unique, planned, and streamlined experiences to fans – both in person and at home.
The latest agreement comes after MSE teamed up with KPMG in June 2022 to reimagine the arena suite concept at Capital One Arena.
“There has never been a more pivotal time for our organisation, as we embark on the opportunity of a lifetime to transform Capital One Arena into an iconic epicentre of sports and entertainment in the heart of the nation’s capital and set up our overall business for sustained growth and innovation,” said Jim Van Stone, president of business operations and chief commercial officer at Monumental Sports & Entertainment.
“KPMG’s unmatched expertise in disruptive innovation and bettering the communities they serve will play a central role in leading Monumental into the future, redefining the fan experience for all visitors to this new vibrant entertainment district and enhancing the cultural and economic landscape of downtown D.C.”
Shawn Quill, national sports industry leader at KPMG, added: “The future of the fan experience lies in cultivating unforgettable moments, fostering engagement, and embracing technology to enhance the experiential value. This expansion of our relationship with Monumental Sports & Entertainment presents an incredible opportunity for both organisations to collaborate and leverage our collective strengths.”
In March, MSE reached an agreement with the District of Columbia to carry out major renovation work at Capital One Arena, after plans were dropped for an entertainment district in Virginia that would have housed a new arena for the Wizards and Capitals.
The District has committed to financing of $500m (£373.9m/€447.2m) towards a renovation of Capital One Arena. D.C. will also provide an additional $15m towards improvements of the alley connecting Capital One Arena to the Gallery Place shopping centre.
MSE announced in December that it had reached the framework of an agreement for a public-private partnership to create a new entertainment district in Alexandria, Virginia. Had the proposal been finalised, the Capitals and Wizards could have relocated to Virginia as early as 2028.
The Capital One Arena financing package was signed off in April, but there has been little news since then regarding what is planned for the venue.
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