Mayor Parker Announces $1.3 Billion Agreement for New 76ers Arena in Center City, Pending City Council Approval

Sep 18, 2024, 07:07 PM

Philadelphia Mayor Cherelle Parker announced from her City Hall office that the city has reached an agreement with the Philadelphia 76ers to build a new $1.3 billion arena in Center City. The proposed arena, which is privately funded, aims to keep the 76ers in Philadelphia. The deal is pending legislative approval from the City Council and has faced opposition from residents in nearby Chinatown. A Sixers spokesperson expressed gratitude for the mayor's diligence in evaluating the proposal. The agreement is seen as a significant development for the city and the team, which was considering a move after the conclusion of its lease at the Wells Fargo Center following the 2030-31 season.