Philadelphia mayor strikes a deal with the 76ers to build a new arena downtown

Source: Associated Press

Philadelphia mayor strikes a deal with the 76ers to build a new arena downtown

By MARYCLAIRE DALE
Updated 6:32 PM EDT, September 18, 2024

PHILADELPHIA (AP) — The Philadelphia 76ers have a new teammate in their bid to build a new $1.3 billion arena downtown.

Mayor Cherelle Parker announced Wednesday that she has forged a deal with team owners to keep the NBA franchise in town and will send it to city council. The decision comes despite objections from nearby Chinatown residents and just weeks after New Jersey’s governor offered $400 million in tax breaks to build the site across the river in Camden.

“This is an historic agreement,” Parker said in a video posted on the social platform X. “I wholeheartedly believe this is the right deal for the people of Philadelphia. To the people of Chinatown, please know that I hear you. We have the best Chinatown in the United States, and I am committed to working together to support it.”

Team owners say their planned 76 Place would improve a struggling retail corridor near City Hall and capitalize on the city’s public transit. They have vowed not to renew the lease on their current home, a circa 1996 arena in the city’s South Philadelphia sports complex, when their lease runs out in 2031.

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Read more: https://apnews.com/article/philadelphia-76ers-arena-216cdcd6a76dfd1119e45f4eb6647e7e