SIXERS REPORTEDLY TALKING 'ALL POTENTIAL OPTIONS SERIOUSLY' WITH NEW ARENA, 'INCLUDING [NEW JERSEY]'

Could the Sixers’ efforts to get a new arena land them on the Camden Waterfront? It seems like it might be picking up steam.

Last week, the city of Philadelphia put out an independent study regarding the Sixers’ proposal for a new arena at Market East in Center City.

While most of the study helped the Sixers’ cause, the biggest sticking point continues to be the project’s impact on Chinatown. We highlighted those concerns in a previous post.

If the end result is that the city chooses not to green light 76 Place, it will be the second time the Sixers tried to build a new arena within the city. The previous unsuccessful attempt was a couple years ago when the team proposed an arena near Penn’s Landing. The city instead awarded the land to the New York-based Durst Organization. The Durst Organization has yet to begin development.

The Sixers are in a tight spot if they want to get their new arena done by 2031 when their lease at the Wells Fargo Center ends.

With options dwindling in the city of Philadelphia, could the team look across the Delaware River? A report from ROI-NJ’s Tom Bergeron is giving legs to the idea that the Sixers could turn to Camden and the state of New Jersey to meet their needs.

Bergeron has previously reported that Governor Phil Murphy would welcome the Sixers with open arms — and why not? Bringing an NBA franchise to South Jersey would be a huge boon for the state, specifically the city of Camden. The Sixers already have their state-of-the-art practice facility on the waterfront. Harris-Blitzer Sports & Entertainment already owns the NHL’s New Jersey Devils. New Jersey also hosts two NFL teams in the Giants and Jets (those teams still carry “New York” in front of their names, for what it’s worth). The dots aren’t difficult to connect.

While HBSE would still fund the construction of a new arena in New Jersey, they could be eligible for significant tax breaks, per Bergeron.

“The project, which would be self-financed by Harris Blitzer Sports & Entertainment (the entity that owns the Sixers), would be eligible for hundreds of millions of dollars in tax incentives.

Because the project would contain both an arena and a full-scale mixed-use component, HBSE could be eligible to receive two Aspire tax credits worth up to $400 million each.

In addition, the Governor’s Office aims to work with the Legislature to enable the structuring of up to $500 million of special-purpose bonds supported by fees and surcharges on tickets, concessions and parking (meaning there will be no impact to New Jersey taxpayers) to support the development of an arena.”

Jersey wants the Sixers and it sure sounds like the Sixers are more open to wanting Jersey with each setback with the city of Philadelphia.

- Paul Hudrick