Gov. Glenn Youngkin (R-VA) slammed Virginia lawmakers on Thursday for making a “colossal mistake” in leaving funding for a sports arena out of the state budget.

Lawmakers in the state Senate stripped language from the budget that would allow the project to move forward, citing a fear of the high cost the state would have to pay if the revenue did not meet expectations. 

The facility, which was one of Youngkin’s top priorities recently, would have housed the NHL’s Washington Capitals and the NBA’s Washington Wizards.

“I believe the Senate is about to make a colossal mistake,” Youngkin said at a press conference. “I had the honor to present a truly unprecedented opportunity to welcome two professional sports teams to Virginia. The opportunity came over many months of working closely to represent the very best interest of the commonwealth and the very best interest of taxpayers, to put Virginia in a position where we could truly win.” 

The governor claimed the decision to withhold this funding from the budget ignored the increase in revenue that the teams would bring the state, along with 30,000 additional jobs. The proposed deal would have brought the state an estimated $12 billion in economic impact. 

Youngkin also asserted that the project could be done with “no upfront cash, no new taxes, and no impact to our borrowing capacity or credit rating.” 

Under the deal, the sports and entertainment state authority would have owned the land and entered a 40-year lease with Monumental Sports, which would pay $403 million upfront. The city of Alexandria would also pay $106 million for a performing arts venue near the arena.

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“As I said, I believe this is a massive mistake for the commonwealth,” Youngkin said. “Over the course of the last two years, we’ve collectively seen what a vision of growth and opportunity can yield. We’ve worked together, the General Assembly, House and Senate Republicans and Democrats, we have worked together in a bipartisan way to deliver historic tax relief and investments in education and in public safety, to overhaul behavioral health, to, in fact, drive Virginia to new heights.”

Although the new budget will be a setback for the governor, it does not mean the project is dead. Youngkin could propose an amendment to the budget or call a special session of the state legislature for lawmakers to consider a different bill on the project.