Philadelphia Officials, 76ers Reach Agreement For Center City Arena

PHILADELPHIA — Despite local protests and enticing offers from New Jersey officials, the Philadelphia 76ers and city officials have reached an agreement to build a basketball arena in Center City Philadelphia.

Mayor Cherrelle Parker Wednesday took to social media to announce the agreement between the team and the city, which said is "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," she said.

Full details on the agreement will be released at a later, formal presentation, Parker said in her video.

Townhall meetings will be held across the city, she said, to keep residents informed of the process of the agreement.

She said the agreement represents $1.3 billion in private investments for the city and will result in "hundreds of millions of dollars" in new tax revenue for the city and School District of Philadelphia.

Parker also touted "hundreds and hundreds" of jobs for Philadelphians and said the economic opportunities represented by the agreement are unprecedented for the city.

She went on to address the residents of Chinatown directly. Many residents in the neighborhood have strongly opposed the idea of putting an arena in the already congested space.

"I am committed to working together with you to support [the neighborhood]," she said.

Social media users shared their displeasure with the agreement.

"Say goodbye to chinatown as you know it. this will be your legacy," one X user commented.

"Congrats on not being reelected ever again," another wrote. "Ruining a city’s sports atmosphere while also ruining Chinatown at once!"

"A new arena before all schools have adequate HVACs for the crazy weather? I mean I don't remember having so many early dismissals before," one person said.

"It's incomprehensible how this won't be gridlock beyond worst nightmares," an X user wrote. "The traffic in downtown areas is already miserable."