When and where is the new Philadelphia 76ers arena going to be built?
The 76ers announced their plans to build a new privately-funded arena in Philadelphia over the coming years.
The Philadelphia 76ers have announced their plans to leave Wells Fargo Center for a new arena in downtown Philadelphia that will begin construction in a few years.
Location and opening plans
The new proposed arena, to be called “76 Place” for now, will be located in the Fashion District, to the north of their current location and closer to Center City. “Quite simply put, there is no better place to build an arena in Philadelphia than in Center City, with its robust public transit infrastructure and existing dynamic businesses eager to serve fans and visitors alike,” said Philadelphia business leader David Adelman, who is heading up the redevelopment. “76 Devcorp is inspired by many successful sports and entertainment arenas built in dense urban centers that promote integration with the surrounding communities. We’re dedicated to making sure this development is a win for our fans and Philadelphia at large”.
In their statement, the 76ers explain the projected economic terms of the deal: “The new, privately-funded arena is anticipated to cost approximately $1.3 billion. The arena will provide $1.9 billion in overall economic output during construction and $400 million annually upon opening to support Philadelphia’s long-term economic growth and sustainability.”
Although the project is already underway, the 76ers explain that “ground-breaking for the proposed project is not expected for several years. The general public and fans can stay up to date on the progress of the development project by visiting 76Place.com.” This is the proposed timeline:
Embiid reacts to the news
Philadelphia 76ers star center Joel Embiid had something to say about the news. The 28-year-old Cameroonian tweeted a couple of emojis that accurately explain how he feels about the new arena and how soon it will be inaugurated.
Embiid is under contract with the Sixers through the 2026-2027 season after he signed an extension that will pay him $195 million over four years. He would need to have a very long career and stay with the Sixers until the age of 37 to play at the new stadium as the team’s star.
Wells Fargo Center history
For the next decade, though, the Sixers will keep playing in Wells Fargo Center, their arena since 1996, shared with the NHL’s Philadelphia Flyers. Wells Fargo Center is south of the proposed new stadium. The Sixers have not yet won a championship there, coming closest in their 4-1 loss to the Lakers in the 2001 NBA Finals. With a team led by Embiid and James Harden, they will try to have a few more chances in the playoffs before they move to “76 Place”.