A tentative agreement has been reached to keep the Sixers in Philadelphia, Mayor Cherelle L. Parker announced on Twitter (video link). The deal, which must be approved by city council, involves a new arena in Center City.
“This is a historic agreement,” Parker said. “It is the best financial deal ever entered into by a Philadelphia mayor for a local sports arena. I wholeheartedly believe it is the right deal for the people of Philadelphia.”
The new arena would be located on Market Street East, which Jeff Gammage, Sean Collins Walsh and Ximena Conde of The Philadelphia Inquirer describe as a “beleaguered” section of the city. Parker promises that the new facility will generate tax revenue for the city and local schools, create hundreds of new jobs and launch “the start of an unprecedented revival of Market Street.”
According to the Inquirer, Parker’s statement followed a meeting with leaders from Chinatown, who have opposed development in the area. Dozens of Chinatown residents gathered outside City Hall on Wednesday to protest the proposed arena, vowing that they will continue to fight it.
The agreement with the Sixers comes after an offer from New Jersey to provide $400MM in tax credits and build a multi-purpose arena once the lease at Wells Fargo Arena expires in 2031. The team currently rents the arena from Comcast Spectacor and has plans to build a $1.3 billion facility when a location is officially secured.
The Sixers released a statement expressing optimism about the new agreement, relays Kyle Neubeck of PHLY Sports (Twitter link).
“We are grateful to Mayor Parker and her team for their time and diligence in evaluating our proposal,” the statement reads, “and look forward to advancing to the next steps with City Council.”
I guess if they don’t mind even less attendance it is a good plan.
The question is who is paying for the new arena? Shouldn’t be tax payers because a billionaire owns the team.
Considering this agreement was enough to stop the Owners taking $400m of Jersey taxpayer money, you can bet your last dollar the taxpayers of Philly are paying.
Supposedly, it’s not gonna take any city funding. That said, I do expect the state will pay some. Shapiro is a big Sixers fan FWIW.
I don’t get cities that do that. Oakland lost both Raiders and A’s because the owners wanted a free billion stadium from the city. Vegas property owners and now paying a lot of money on school bonds when before the hotel tax money went to the schools.
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why? @teacher explain…If you are a teacher you know what happens when sports over education happens and they cut education budget to get a stadium. See Vegas..
I going to appeal my taxes no matter what. But if the city is giving a billion dollar franchise money, I’ll appeal with additional causes.
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There’s no public tax money involved. That is how they are selling it to the public since locals don’t want them going to center city for many reasons. They never wanted to go to Camden, that was a ploy.
The devil is in the detail – they’ve stated they’re not using any city taxpayer money. Doesn’t rule out state or federal dollars.
Even then, they wouldn’t be the first ownership or equity group to backtrack throughout negotiations. Notice how the Mayor didn’t make a point to say there is no taxpayer dollars involved.
The owners are paying for everything.
“Best deal a Mayor has ever done” – signed, the Mayor
I guess that sounds better than “I know we have social equity problems, but I really think giving billionaires another half a billion dollars makes sense”
Well said. But billionaires that don’t employ people full time just seasonally and create seasonal job growth. But hey, the mayor said her deal is the best. Everyone’s own thing is always the best in their own eyes.
Actually the best deal a mayor ever could do is improving Philadelphia’s failing public school system and work to eliminate crime in the city that will probably see some opportunistic criminals around a new stadium looking to get theirs. The current location for all four teams has issues from time to time but it is for the most part very safe and self contained. Bad idea here for a team I love but hasn’t been to the finals or since 2001 and last won a chip in 83.
Nonsensical comment.
Just seems like a stupid plan. Not sure where they’re gonna get all their other events from.
The south Philadelphia sports complex is the most convenient spot. Close to the bridge, major highways and ample parking. Center city is a nightmare to get into on a busy Friday and go to a doctors appointment. No parking or way too expensive parking. Philadelphia in all of its neighborhoods is a beautiful, diverse and cool city. Center city does not need an arena. If anything l said school improvements and the city should improve the arts and Avenue of the arts on broad street leading into center city. Then launch a renewal project in china town bc it is an area we need to celebrate more.
Well if she says the deal she made is the best great! But it’s not a good deal for Philadelphians. The team should have built a new arena at the existing sports complex or down on Delaware ave/Columbus Blvd. more room there. I’m a Philadelphian and I can’t see myself going to a lot of games in center city.
No reason why Sixers shouldn’t own their own stadium. Only way city can help or should help. Is by being helpful on the dirt. Get tax breaks hire only city workers.
Podcast P and teams with incoming new arenas.
About time the city does the right thing!
Now let’s hope they make it happen and in a worthy way for the Sixers!
Hmmm, someone was handed a shiny new briefcase full of greenbacks…. Well probably a few someones, but our mayor was handed the biggest case.
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“Parker promises that the new facility will generate tax revenue for the city and local schools, create hundreds of new jobs…”
These lies in regard to sports venues have long been disproven by numerous studies. High time to dust off the guillotines for these billionaire leeches and their political cronies.
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I heard the new arena will include a nail salon for the sixers players among other fun amenities.