The agreement reached earlier this month calls for the Sixers to finance the entire project, called “76 Place,” with no city funding. It includes a provision that would let the team make annual payments in lieu of taxes.
Mayor Cherelle Parker announced Wednesday that she has forged a deal with team owners to keep the NBA franchise in town and will send it to city council. The decision comes despite objections from nearby Chinatown residents and just weeks after New Jersey's governor offered $400 million in tax breaks to build the site across the river in Camden.
A Republican mega-donor with ties to Trump and TikTok, a candy bar heiress, the owner of 84 Lumber, and the primary owners of two Philly sports teams are among the Pennsylvania billionaires on Forbes’ annual list of the world’s richest people.
