For several years, the Sixers have dreamed of settling in downtown Philadelphia with a new modern arena, but the obstacles are as numerous as they are high, and the city of Camden, New Jersey, hopes to take advantage of them.
New Jersey state officials have sent details to the franchise owners about an opportunity to use state-owned land in Camden to develop a massive complex that would include an NBA-standard arena, housing, offices and shopping malls.
Big tax advantages
According to ROI-NJThis The multibillion-dollar project, championed by Gov. Phil Murphy and supported by the legislature, would be built on the former state prison site adjacent to the Delaware River and north of the Ben Franklin Bridge. It is Harris Blitzer Sports & Entertainment (the Sixers' ownership entity) that would finance the whole thing, without using a single taxpayer dollar. Better yet, this project would be eligible for hundreds of millions of dollars in tax rebates.
Since the project would include both a venue and a real estate and retail complex, HBSE could be eligible for two tax credits worth up to $400 million each.
Sixers pressed for time
“We have worked tirelessly over the past five years to build a venue in Philadelphia and negotiations are still ongoing with city leaders regarding our proposal at Market East,” reacted the spokesperson of the franchise. “The reality is that we are running out of time to reach an agreement that will allow the Sixers to open our new home in time for the 2031-32 NBA season. So we have to take all possible options seriously, including this one.”
Let us recall that since 2016, theThe Sixers have moved their headquarters and training facility to Camden, making the move permanent in New Jersey would make sense for executives, who own also the New Jersey Devils (NHL) And the Prudential Center. Furthermore, theand current lease at Wells Fargo Center Philadelphia's stadium ends after the 2030-31 season, and the Sixers have already said they need to close a deal for a new arena by the end of 2024 (and begin construction in 2025) to meet their schedule.
