As speculation about the Philadelphia 76ers relocating to New Jersey intensifies, a recent proposal emerged featuring a substantial tax incentive package valued at $400 million.
New Jersey is offering up to $400 million in tax credits and proposing a large mixed-use waterfront development in Camden to attract the Philadelphia 76ers. The plan includes residential, commercial, and retail spaces with the 76ers as a key feature, located near the Benjamin Franklin Bridge. This proposal comes as the 76ers and Philadelphia are negotiating over a new $1.3 billion arena in the city’s Chinatown, with the team’s current lease at Wells Fargo Center expiring in 2031.
The 76ers, which already have facilities in Camden, described New Jersey’s offer as “thoughtful and compelling” but continue discussions with Philadelphia leaders. The team is concerned about timing and is considering all potential options. Philadelphia Mayor Cherelle Parker emphasized that keeping all Philadelphia teams in the city is a priority for her.
Camden Mayor Victor Carstarphen supports the plan, calling it a “generational investment,” and local business owners are enthusiastic about the potential economic boost. However, in Philadelphia, concerns about increased traffic and parking issues in Chinatown have been raised by the Save Chinatown Coalition, which reports that recent polling shows significant opposition to the proposed arena.
Meanwhile, Pennsylvania Governor Josh Shapiro has expressed his support for the Sixers remaining in Philadelphia and noted that he has not been approached for tax incentives.
“The mayor is the lead on this, together with city council. We’re in direct communication with her office,” Shapiro told reporters after a ceremonial bill signing at Morrisville Middle/Senior High School in Bucks County Tuesday. “And I’m confident that the mayor will bring this to a conclusion that works for her, for council, for the city of Philadelphia and that keeps the Sixers here in the city.”
