By Associated Press’s Mary Claire Dale
PHILADELPHIA (AP) — The Philadelphia 76ers will forego a deal with the city to relocate downtown in favor of working with their existing landlord, Comcast Spectrum, to construct a new arena in South Philadelphia.
Critics of the proposal to build a $1.3 billion arena on the outskirts of Chinatown close to City Hall are relieved by the dramatic reversal. On Monday, Philadelphia Mayor Cherelle Parker referred to the proposal as a “win, win, win, win” for the city.
This is a lot, Philly. At a midday news conference, Parker stated, “We are here despite the fact that this is a curveball that none of us saw coming.”
However, following two years of tense negotiations over the downtown plan, some city council members and opponents felt deceived. Jim Harrity, a member of the city council, told a television station that he felt totally duped.
NBA Commissioner Adam Silver, who made a remote appearance, as well as team and Comcast executives joined Parker on Monday, promising that the new concept would infuse both locations with new life and a fresh perspective. Additionally, the parties promised to cooperate with the city in an effort to attract a WNBA club to Philadelphia.
David Adelman, a partner in the 76ers ownership group, Harris Blitzer Sports & Entertainment, stated, “Even though plans have changed, our commitment to doing something good for the Sixers, our fans, and most importantly, our city, has not changed.”
Residents of the city’s surrounding Chinatown and others opposed the team’s proposal to open its proposed 76 Placedowntown by 2031, but just weeks ago, the city council approved it. When the team’s lease expired, it had stated that it wished to acquire its own facility, which it shares with the NHL’s Philadelphia Flyers in a Comcast-owned arena.
However, the conflicting parties began discussing two weeks ago, and within the last three days, municipal authorities have been included in the high-stakes negotiations.
In order to replace its stadium in the South Philadelphia stadium district by 2031, the team, whose ownership group is headed by businessman Josh Harris, announced that it has established a 50/50 joint venture with Comcast. According to a joint statement released by the parties on Monday, Comcast will also acquire a minority share in the team and collaborate on the WNBA proposal.
Additionally, they promised to invest in Market East, an abandoned location that was once a thriving downtown retail area but has suffered for years despite numerous attempts to revitalize it.
The partners, who also control the NFL’s Washington Commanders and the NHL’s New Jersey Devils, had promised not to apply for any public subsidies for the downtown project, which they claimed would boost Center public’s economy by $2 billion. The new project’s financial parameters were not immediately disclosed.
According to Chinatown activist Vivian Chang, the neighborhood was cautiously enthusiastic but concerned that the developers had taken over our city and that it had wasted time on other urgent problems.
Chang told The Associated Press, “We have been saying all along that they were playing people.” The interests of the community were not taken into consideration by these millionaire developers. Their only concern was making money.
As they search for the best bargain, team owners frequently alter their plans, according to economist Victor Matheson, a professor at the College of the Holy Cross who specializes in stadium finance concerns. Following an agreement to relocate to the northern Virginia suburbs with $515 million in public funding, the NBA’s Wizards and the NHL’s Capitals made the decision to remain in Washington last year.
Matheson stated that this occurs frequently and that the 76ers’ game against Philadelphia in New Jersey was part of their pursuit of public funding.
He thinks the group intended to receive some subsidies along the road, but when that didn’t work out, they naturally found themselves back where they were before.
The downtown plan’s proponents had hoped that a glamorous arena with 18,500 seats would serve as the impetus for revitalizing Market East, which stretches eight blocks from City Hall to the Liberty Bell. Council members Jamie Gauthier and Rue Landau said in a statement that their decision-making process betrays a deep disregard for city officials, stakeholders, and citizens. Pitting working-class Philadelphians against one another and pressuring the city council to approve a shoddy proposal on an unnecessarily short timetable was dishonorable on the part of 76DevCo.