Philadelphia 76ers agree to new stadium deal amid community concerns

The Philadelphia 76ers have confirmed they will remain in the city they have called home since 1963, announcing plans for a new stadium in Center City, despite pushback from some local residents. The decision comes after reports that the team had been considering a move to Camden, New Jersey, where state officials had offered $400 million in tax credits as part of a larger multibillion dollar development plan.

Philadelphia Mayor Cherelle Parker officially announced the agreement during a press conference this week, describing it as a “historic” deal.

The $1.3 billion stadium project will be entirely financed by the 76ers, with the team covering the costs through annual payments in lieu of taxes, which are expected to average about $6 million per year.

In addition to the stadium, the 76ers have committed to a $50 million investment in local businesses, nearby communities, and the city’s schools.

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“The Sixers are financing the $1.3 billion project with no city funds. That is an approach that is unprecedented among our local sports facilities,” Parker stated. “It’s the best sports facility agreement in Philadelphia’s history. It keeps our hometown 76ers playing in Philadelphia at least until 2061.”

However, the plan has drawn opposition from some Philadelphia residents, particularly in the city’s Chinatown district, which is located just one block from the proposed site.

Activists have expressed concern that the project could lead to the displacement of long-standing residents, particularly older individuals, low-income families, and new immigrants.

“I am proud to oppose the 76ers arena proposal in Center City, which poses an existential threat to Chinatown,” Pennsylvania state Rep. Rick Krajewski said in a statement. “No matter how the billionaire owners of the 76ers try to lobby, threaten and bully, working families have a right to stay in their homes.”

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The project still requires approval from the Philadelphia City Council before it can proceed. If approved, demolition in the area could begin in 2026, with construction slated to start in 2028. Officials aim to have the new arena ready for the 76ers’ 2031-32 season.