The Philadelphia 76ers are heavily considering shifting the franchise from Philadelphia, a city where the team has been based since 1963. The franchise is looking to upgrade from their current arena, the Wells Fargo Center, but hasn’t seen progress in the same from the city itself. This has led the franchise to explore relocation to a nearby city like New Jersey where their project is feasible, a team spokesperson told ROI-NJ.
“We have worked tirelessly for the past five years to build an arena in Philadelphia, and negotiations remain ongoing with city leadership regarding our proposal at Market East. 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. As a result, we must take all potential options seriously, including this one.”
Camden, New Jersey has promised the team that it will give them a home if the city of Philadelphia doesn’t sanction a $1.3 billion redevelopment project for a proposed arena in Center City. The positive impact of such a project in the city of Philadelphia is being reviewed by Congressional members who need to allow the 76ers to continue with their plans.
Their current arena, Wells Fargo Center, has a lease with the 76ers until 2031-32. If the team wants to build a sprawling new arena in the heart of the city, they need to start their construction plans within the next year. This looks difficult at the moment due to concerns regarding the displacement of current residents in that area, the negative impact on small businesses, and the gentrification of proposed areas such as Chinatown.
The 76ers have had their franchise head office and practice facility in Camden, New Jersey since 2016. It won’t be a long move away from Philadelphia if the 76ers want to go the New Jersey route, giving the city an NBA team for the first time since the Nets moved to Brooklyn in 2012.
A possible city relocation is almost a decade away as the 76ers will have to play at the Wells Fargo Center until the end of 2031-32, but an impending announcement on which city will house them in the future should be expected over the next season.
Teams around the NBA are trying to transform the in-arena experience for fans to justify the cost of attending a live sports event. We’ve seen franchises like the Warriors, Bucks, and Jazz revamp their arenas or switch locations to new arena complexes which has led to a considerable increase in their revenue.
The Clippers are moving into a new arena this season, with it being the start of a process to create an identity entirely removed from the Lakers, with whom they shared an arena for decades.
Other teams are also looking at taking similar steps to revitalize their arenas for future gains, with Mark Cuban selling the Mavericks to the Adelson family due to their expertise in real estate, with the goal of building a resort-cum-arena to house the Mavericks, as they also look to help legalize gambling in Texas to open a casino as well.
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