• Loading stock data...
Thursday, January 23, 2025

Philadelphia Approves $1.55B Sixers Arena Despite Demonstrators

At last, the NBA team can prepare to fully control its own building after sharing the Wells Fargo Center with the NHL’s Flyers. 

Philadelphia 76ers

After several years of proposals, planning, and plenty of local friction, the 76ers’ planned $1.55 billion downtown arena is officially a go. 

The Philadelphia City Council approved Thursday the NBA team’s controversial bid to leave the south Philadelphia sports complex and pursue a new venue development, 76 Place at Market East, near Philadelphia’s Chinatown. The 12–5 vote on multiple bills related to the arena project was the largest and most dramatic step yet toward making the arena a reality following a prior, preliminary council approval, an improved community benefits agreement, and ardent support from Philadelphia Mayor Cherelle Parker

The council vote, however, still contained plenty of drama as anti-arena demonstrators locked arms in the chamber and briefly delayed the start of the meeting before they were removed. The arena effort has long been controversial—particularly with the neighboring Chinatown neighborhood fearful of potential gentrification and the forcing out of incumbent ethnic communities. Many other opponents who packed the chamber chanted “Council sellout!”

The team, however, has been strongly pushing to get the needed city approvals by the end of the year to stay on a timetable targeting the new venue to open for the 2031–2032 NBA season—when a current lease for the Wells Fargo Center expires. The council’s approval arrived at its final session of 2024. The building will be privately financed. 

“The leadership [the] council and the mayor have displayed embodies a greater vision for Philadelphia,” David Adelman, 76ers co-owner and lead developer, said in a statement. “They recognize how important this project is for the revitalization of our city.”

While the arena plan is progressing, the 76ers continue to struggle on the court after holding championship aspirations. The team is 8–16, the fourth-worst mark in the Eastern Conference, and 2022–23 MVP Joel Embiid has missed most of the season dealing with a series of injuries.

Big Progress in D.C., Too

Just a little farther south on Interstate 95, the parent organization of another NBA team also made sizable progress Thursday on its new facility dreams. Monumental Sports & Entertainment—the parent organization of the Wizards, the NHL’s Capitals, and the WNBA’s Mystics—and the District of Columbia broke ground on a planned renovation of Capital One Arena worth at least $800 million.

The project, contemplated since a dramatic reversal from a proposed arena project in Virginia, is slated to be complete in time for the 2027–2028 NBA and NHL seasons. MSE also released a new set of building renderings, with the Gensler-produced design showing a sweeping new vision for both the facility’s exterior and interior. 

“The arena will be a marvel of modern design and technology, the intersection of style and comfort and a futuristic and first-class fan experience from street to seat,” said MSE founder and CEO Ted Leonsis. 

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

CFP Title Game Draws 22 Million Viewers, Down 12% From Last Year

Ohio State defeated Notre Dame in Monday’s title game.

WNBA Free Agency Heats Up: Griner, Plum Among Stars in the Mix

Jewell Loyd is not a free agent but requested a trade.

How the Suns Added Draft Picks and Showed They’re All In on..

Butler returned Friday from a seven-game suspension.

Utah Hockey Club Names Like Yeti Face Trademark Issues

Naming the NHL team “the Yeti” runs into trademark issues.

Featured Today

Jeremiah Smith

Ohio State’s Title Isn’t As Simple As $20 Million in NIL

Three lessons from the Buckeyes’ title beyond “pay the best players.”
January 22, 2025

Can Upstart Sports Leagues Beat the Grim Start-Up Odds?

Investors think they can buck the massive failure rate of new enterprises.
January 21, 2025

Amateurism Dilemma on Full Display at the College Football Playoff

The sport has never looked or operated more like a pro league.
January 19, 2025

Unrivaled’s Impeccable Timing Pressures WNBA to Give Players More

The league could “blow the lid off” the business of women’s sports.

Caitlin Clark Effect Fuels Fever’s New $78M Downtown Training Center

The WNBA club is the latest to develop a new practice facility.
Apr 7, 2022; Atlanta, Georgia, USA; A general view of fans outside of Truist Park before the game on Opening Day between the Atlanta Braves and Cincinnati Reds.
January 14, 2025

Philly Rips Page From Rival Playbook With Sports Complex Revamp

Philadelphia’s mayor frequently touts the influential Braves development.
Sep 8, 2024; Cleveland, Ohio, USA; Cleveland Browns quarterback Deshaun Watson (4) runs the ball while looking for a receiver against the Dallas Cowboys during the first quarter at Huntington Bank Field.
January 15, 2025

Cleveland Countersues Browns As Stadium Dispute Escalates

The Browns want to build a $2.4 billion dome in the suburbs.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
January 13, 2025

76ers Choose to Stay in South Philly, Scarred by Protests and Opposition

The pact also includes Comcast acquiring a stake in the 76ers.
Josh Harris
January 13, 2025

Commanders, Sixers Owner Josh Harris Had a Wild, Historic Sunday

The tri-city team owner crossed two big milestones Sunday.
January 12, 2025

Sixers Ditch Downtown Dreams, Partnering on South Philly Arena

The NBA team and Comcast Spectacor will develop a new South Philadelphia arena.
January 9, 2025

As Fires Devastate L.A. Area, NFL Moves Vikings-Rams Game

As of now, Monday’s wild-card game is still set for SoFi Stadium.