While you were looking up Giants QB Tommy DeVito’s agent and thinking, “That man has style,” a regional sports shake-up was in the works.

Yesterday, Ted Leonsis, owner of the NBA’s Wizards and the NHL’s Capitals, announced a deal to move both teams from downtown Washington, DC, across state lines to Alexandria, VA (though no official documents have been signed). The move is a huge win for Virginia—the most populous state without any big league sports teams—where the two teams could play at the heart of a proposed $2 billion, 12-acre entertainment complex as soon as 2028.

But it’s a huge bummer for the nation’s capital. Washington, DC, has one of the highest rates of people working remotely in the US, and its once-buzzing downtown is still struggling to recover post-Covid. Now DC Mayor Muriel Bowser, who made a last-minute offer to Leonsis on Tuesday night to keep the teams in town, faces the potential loss of two major fanbases and a sports hub in the city’s Chinatown area.

A new trend in stadiums

Leonsis’s plan for Virginia places him among other billionaire franchise owners who want to build massive entertainment complexes near their teams to capitalize on the synergy between sporting events and other nightlife and entertainment. The big prize that some other franchise owners are chasing is a casino.

• Earlier this month, Dallas Mavericks owner Mark Cuban came one step closer to his dream of building a new Mavs arena in the middle of a resort and casino after he struck a deal to sell his majority stake in the team to casino mogul Miriam Adelson.
• In November, New York Mets owner Steve Cohen, along with Hard Rock International, proposed an $8 billion entertainment complex and casino to be built next to Citi Field.

Meanwhile…in Oklahoma City, 7-foot-tall men aren’t going anywhere. Voters in OKC approved an old-fashioned 1% sales tax for the next six years to fund the construction of a new downtown arena for the OKC Thunder. Under the agreement, the team will stay through 2050.—CC

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Fed rate cuts may come in threes next year. The Federal Reserve had investors popping bottles yesterday, not just because it made the expected move of holding interest rates steady for now but also for signaling that there may be multiple interest rate cuts in 2024. Most Fed officials penciled in three quarter-percentage-point cuts in their projections. Fed Chair Jerome Powell said inflation had “eased” but still did his best to keep everyone from getting too excited, saying, “No one is declaring victory. That would be premature.” Even so, markets started pricing in even more aggressive cuts than the projections.

House votes to open formal impeachment inquiry into President Biden. The House vote split along party lines, with every Republican supporting opening an impeachment probe into whether the president benefited from his son Hunter Biden’s overseas business dealings and every Democrat voting against it. The vote formalizes an ongoing Republican inquiry that has not yet turned up any evidence of wrongdoing by the president, who called it a “baseless political stunt.” For a little extra drama on Capitol Hill, the vote came hours after Hunter Biden defied a subpoena to testify privately to Republicans, saying his father had no involvement in his business.

SCOTUS to rule on abortion pill access. In its most significant abortion case since overturning Roe v. Wade, the Supreme Court will decide a challenge to federal regulations widening the availability of mifepristone, a common abortion pill. The court will hear arguments next year and is expected to rule by June. The justices also agreed to consider another case with broad political implications: They will review the charge of “obstruction of an official proceeding” that’s been brought against hundreds of people involved in the Jan. 6, 2021, riot at the Capitol, as well as Donald Trump.

Tesla issued a recall for 2 million vehicles—almost every single Tesla sold in the US—yesterday. The recall, which is really just a glorified software update being pushed to the vehicles, comes after the National Highway Traffic Safety Administration (NHTSA) wrapped up a two-year investigation into crashes involving the company’s Autopilot feature.

What Tesla is changing: The update will add more warnings for drivers to pay attention while using the feature because, even though it’s called “Autopilot,” drivers must remain attentive to the road and keep their hands on the wheel when using it.

Why? The NHTSA looked into hundreds of Tesla crashes involving Autopilot and found insufficient safety controls let drivers use it even when they shouldn’t have: in some cases, when they were drunk or sitting in the backseat.

Safety experts say it’s not enough. They warn that a few more flashing lights won’t address some serious issues with Autopilot, including the system’s trouble detecting objects, especially emergency vehicles, in front of it. Since 2019, at least 17 people have been killed in crashes involving Teslas using Autopilot, according to a Washington Post investigation.—MM

Nerds, the colorful candy brand amidst a renaissance thanks to a product innovation that would’ve made Wonka proud, is set to run its first-ever Super Bowl commercial in February.

The last time you went on a group snack run, chances are someone made a beeline for the innovation in question: Nerds Gummy Clusters, the bite-sized Nerds Ropes that make you see God.

The sugary treat has become so popular since its 2020 release that Nerds parent company Ferrara Candy has more ad money than it knows what to do with: It plans to run a 30-second spot during the second quarter of Super Bowl LVIII, which will reportedly cost up to $7 million.

In more good news for the dentistry business, Ferrara says…

• Nerds retail sales have skyrocketed from $50 million in 2019 to around $500 million now.
• Sales of Nerds Gummy Clusters grew 67% this year.
• Within the last two years, Nerds boosted its manufacturing capacity by 360% and tripled its marketing budget.

This candy sticks: Ferrara’s CMO says that in the year after people first try Nerds Gummy Clusters, 65% of them will buy the candy another two or three times, and 22% (me) will buy them on more than six occasions.—ML

Stat: If you’re dropped into a new location and find yourself surrounded by French speakers, don’t assume you’re in Paris like Emily. The Democratic Republic of Congo’s capital, Kinshasa, has as many people who speak the language as the city where the Eiffel Tower lives does, according to the New York Times. In fact, more than 60% of people who greet the day with a bonjour live in Africa, and 80% of children studying French are doing it on the African continent, per the Times. Of course, the influence of the former colonial power is also still felt in Canada, where authorities in Quebec strive to prevent English words from creeping into fashion.

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Oprah Winfrey is an accomplished entrepreneur and TV personality who had her portrait unveiled in the National Portrait Gallery yesterday—so, naturally, everyone’s talking about an exclusive interview she gave People magazine about…her weight. The talk-show queen told People she was taking weight loss meds. Winfrey also has a financial interest in the medical treatments through her position as a board member of WeightWatchers, which has embraced the shift toward them.

Read: Why cinemas want to bring back intermission. (The Hollywood Reporter)

Play: Google wants you to do the searching within a Where’s Waldo?-style game based on 25 years of search history. And, of course, there’s a hidden Taylor Swift version.

Consider your ride: Here’s a ranking of cars by their resale value.

Bake: Before you head to your IRL cookie swap, trade recipes at this virtual one.

Smell like teen spirit: If you thought Doritos-flavored booze would be the wildest collaboration of the week, you probably missed this AXE Body Spray-infused hoodie.

Last call for early investors: The team at Autonomix is responsible for $600m in previous exits—and now they’re planning to list on NASDAQ. Invest in this medtech innovator by Jan. 15.*

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