Philadelphia mayor announces deal to build new 76ers arena in Center City

When the news went public about Camden, New Jersey, trying to lure the Philadelphia 76ers across the river with a new arena development, it was an obvious bit of leverage for the franchise. That’s why the 76ers’ comment on the proposal was, “We must take all potential options seriously, including this one.”
It worked. Or at least pushed the arena deal the 76ers wanted over the finish line. On Wednesday, Philadelphia Mayor Cherelle Parker announced her office finalized an agreement to build an arena for the Philadelphia 76ers in Center City.

“We are grateful to Mayor Parker and her team for their time and diligence in evaluating our proposal and look forward to advancing to the next steps with City Council,” the 76ers said in a statement. The Philadelphia City Council still has to vote on the project, but no big city mayor gets to that position without being able to count votes before making a major public announcement.

The 76ers have been looking to move out of the Wells Fargo Arena, their lease is up in 2031, and this city center development near Chinatown was the club’s preferred choice. However, there was considerable opposition from residents and businesses in Chinatown, and after the announcement, the Save Chinatown Coalition released its own statement saying the “fight is far from over.”
A few weeks ago, the City of Philadelphia released a series of reports detailing predictions on how the proposed arena would impact parking, traffic, neighborhoods and more. Those reports were not wholly glowing, raising concerns about parking and traffic if the public transit goals for people going to the venue are not met.

The Camden offer — which was legitimate and included $400 million in tax breaks — gave the 76ers some leverage in the negotiations. While there are votes (and, probably, a lawsuit) still to go, it looks like the 76ers will be staying in Philadelphia for the foreseeable future.