The 76ers are staying in Philadelphia after Mayor Cherelle Parker confirmed that she has approved the NBA franchise's plan to build a new arena in the City Center.
In a video announcement posted on X, formerly Twitter, Mayor Parker revealed that she has reached an agreement with the Sixers to build a new $1.3 billion arena downtown, near Chinatown.
"I am proud to share that I have made my decision and an agreement has been reached that would ensure that our Sixers are staying home," the 100th mayor of Philadelphia said.
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
The proposal will now be forwarded to the City Council, where she expects the package to be approved.
The decision comes despite objections from Chinatown residents who believe the new facility will negatively affect the community and the surrounding businesses.
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However, the mayor assured the people that she was committed to supporting the community and keeping the district the "best Chinatown in the United States."
Earlier this month, the New Jersey Economic Development Authority proposed a deal with the Sixers organization that would allow them to build a new arena in Camden, New Jersey, plus tax credits if it would move the squad to NJ.
The proposal seems to be off the table after Mayor Parker's announcement.
76ers' Philadelphia History
Originally called the Syracuse Nationals, the team moved to Philadelphia and changed its name to the 76ers in 1963, according to the team's official website. It got its name from the Declaration of Independence in Philadelphia in 1776.
The 76ers is one of the oldest franchises in the NBA today.
The team has won three championships--one in 1955 as the Nationals and two as the Sixers (1967 and 1983).
Led by Allen Iverson, the Sixers again entered the NBA Finals in 2001 but lost to Kobe Bryant and Shaquille O'Neal's Los Angeles Lakers.
Today, the squad is led by Olympic gold medalist and 2024 NBA MVP, Joel Embiid. In his 10-year career, he averages27.9 points and 11.2 rebounds in 50.4% field goal shooting.
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