Monumental is headquartered in Washington, D.C. American businessman and senior AOL executive Ted Leonsis, who had owned the NHL team Washington Capitals since 1999, founded Monumental Sports & Entertainment on June 10, 2010, following his acquisition of the NBA team Washington Wizards and merger of Lincoln Holdings and Washington Sports & Entertainment.

[1] Minority shareholders of Monumental include Laurene Powell Jobs, the Qatar Investment Authority, Jeffrey Skoll, Sheila Johnson, and Mark Lerner.

[2] In December 2023, Leonsis announced a non-binding partnership with Virginia governor Glenn Youngkin to move the Capitals and Wizards to a planned arena in Potomac Yard in Alexandria, Virginia, by 2028.

[3][4] The structure would be part of an arts and entertainment district at the site, which would include a practice facility, restaurants, an esports venue, concert hall, and a new headquarters for Monumental.

[5] In March 2024, after officials in Alexandria announced that the $2 billion entertainment and sports complex plans were scrapped, Washington mayor Muriel Bowser announced a new deal to keep the Capitals and Wizards in the District until 2050.