76ers unveil plans to build new $1.3 billion arena in Center City Philadelphia by 2031-32 season

The Sixers lease at their present day area, the Wells Fargo Center, expires in 2031 While maximum of 

the NBA is making ready for the 2022-23 season, the Philadelphia 76ers have their eyes set a little in addition into the destiny, because the crew 

 introduced Thursday the introduction of a improvement business enterprise so one can spearhead the constructing

of a new arena this is projected to be finished beforehand of the 2031-32 season The assignment is predicted to cost $1.Three billion, 

 all of on the way to be privately funded, and might be positioned in the coronary heart of Center City Philadelphia.

The improvement group, 76 DevCorp, is led by Philadelphia commercial enterprise leader David Adelman, who has been a season-

price tag holder of the Sixers for over twenty years This development group is in partnership with Harris Blitzer Sports Entertainment,

that's the figure agency that owns the Sixers, led by using Josh Harris and David Blitzer "The Philadelphia 76ers 

are a storied Philadelphia group with a verified song document of making an investment in their network That's why we are devoted

to constructing a global-class domestic within the heart of the City and creating a privately-funded arena that strengthens ties in 

the nearby network through investments that prioritize equity, inclusivity and accessibility," Harris said in a press release.