The 76ers are staying put after reaching agreement on Center City arena
It appears the 76ers will be staying in the Philly.
The Philadelphia 76ers and the city of Philadelphia appear to be taking a big step forward in the plans of a new arena in the Center City section of Philly. After talks of the team considering Camden, New Jersey as a viable option, it appears that the team and the city of Philadelphia have an agreement.
Philadelphia Mayor Cherelle Parker took to Twitter to announce an agreement between her administration and the Sixers on an arena in Center City:
“My administration has reached an agreement with the Philadelphia 76ers for an arena in Center City and I will be transmitting the related legislative package to our city council of Philadelphia for its consideration where it must be approved.”
As your Mayor, I’m speaking from my City Hall office with a very important announcement. I am proud to share that I have made my decision, and an agreement has been reached to ensure that our Sixers are staying home.
I wholeheartedly believe this is the right deal for the People… pic.twitter.com/Fnj19mrBOV
— Mayor Cherelle L. Parker (@PhillyMayor) September 18, 2024
Of course, there is still more work to be done in terms of the deal being approved by city council and such, but this is a big step forward for both the city and the Sixers in terms of getting a new arena deal done. The lease for the Sixers ends at Wells Fargo Center after the 2030-31 season.
In August Gov. John Carney, posted his latest idea for expanding Delaware’s appeal and economy on X: building a new Philadelphia 76ers stadium at the Wilmington Riverfront.
Carney shared a rendering of a potential arena in what appears to be the undeveloped area on the east side of the Christina River near the Luxor apartments. The rendering also showed an idyllic image of a completed Riverfront East project including parks and buildings with green roofs.
More: In third college football stop, linebacker from Florida showing talent with Blue Hens
More: Fearless predictions of the winners and scores for Week 3 of Delaware high school football
New Jersey also tried to woo the 76ers. A Sept. 2 letter from the New Jersey Economic Development Authority to Harris Blitzer Chief Executive Officer Tad Brown dangles the latest incentives. The authority said the 76ers would be part of a multibillion-dollar development, mixing with housing, commercial and retail elements.
Authority CEO Tim Sullivan added that as much as $400 million in tax credits could be awarded. Sullivan said the Legislature would be asked to consider issuing up to $500 million in special-purpose bonds.
Hannah Edelman and Joe Smith contributed to this story.
This article originally appeared on Delaware News Journal: Sixers, Philadelphia administration agree on Center City arena
#76ers #staying #put #reaching #agreement #Center #City #arena