CAMDEN, N.J. (AP) — Seeking to lure the Philadelphia 76ers across the river, New Jersey is offering up to $400 million in tax credits and outlining plans
FILE - Philadelphia 76ers mascot Franklin waves the flag during pre-game introductions prior to the NBA basketball game against the Brooklyn Nets, April 14, 2024, in Philadelphia. CAMDEN, N.J. — Seeking to lure the Philadelphia 76ers across the river, New Jersey is offering up to $400 million in tax credits and outlining plans for a sprawling mixed-use waterfront development.
The pitch from Economic Development Authority CEO Tim Sullivan comes as the team and Philadelphia negotiate over a future $1.3 billion arena the team had announced for the city’s Chinatown neighborhood. The team has said it doesn’t plan to stay at the Wells Fargo Arena in the city’s stadium district past 2031 when its lease is up.
“The reality is we are running out of time to reach an agreement that will allow the 76ers to open our new home in time for the 2031-32 NBA season,” team spokesperson Molly Mita McEndy wrote in an email. “As a result, we must take all potential options seriously, including this one.” At an unrelated event in suburban Philadelphia on Tuesday, Democratic Gov. Josh Shapiro said the team wants to remain in Philadelphia and that he hasn’t been asked for tax incentives or offered any.The team’s move to Chinatown comes as some in the community worry that street parking could disappear, traffic could rise and it could be harder to hold festivals.
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