Amid protests, 76ers agree on arena deal with Philadelphia

The Philadelphia 76ers won't be leaving the City of Brotherly Love after all.

After a protracted negotiation with the city of Philadelphia that involved a proposed move across the Delaware River to New Jersey, the Sixers agreed on a deal to build a new arena in Center City, on the edge of the city's historic Chinatown. The Sixers' lease at the Wells Fargo Center expires in 2031, and the team had vowed not to renew it.

The new complex, called "76 Place" is an opportunity for the 76ers to own their own arena. Currently, they rent their space from Comcast Spectator, and share the building with the Philadelphia Flyers. That's part of the South Philadelphia Sports Complex, where the Phillies and Eagles have their own stadiums, and is where all Big Four Philly sports teams have played for the past 50 years.

The controversy comes in the location of the new arena, located right next to Chinatown. Activists have expressed concerns over increased traffic and the displacement of vulnerable residents due to rising costs. Mayor Cherelle Parker addressed concerns over the new arena's impact on the neighborhood in her announcement of the deal.

"We have the best Chinatown in the United States, and I am committed to working together to support it."

Parker and the city may have been moved to act given the threat presented by Camden, New Jersey, where the team has a practice facility. The Sixers may have been bluffing, but the prospect of the NBA team taking the $400M in tax credits from New Jersey and leaving Philadelphia was enough to push the city to make a deal.

Despite recent impact reports that expressed concern about the harm to Chinatown business and provided for lower estimates of tax revenue than then Sixers have claimed, the new arena seems to be on its way. But the Sixers got exactly what they wanted. If their vision can be completed while mitigating the concerns of their neighbors remains to be seen.