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A Philadelphia 76ers spokesperson said the team was "seriously" considering options for when their lease of Wells Fargo Arena expires in 2031. One of those options could move the team to New Jersey, which has been without a team since 2012 when the Nets moved to Brooklyn.
New Jersey state officials contacted the 76ers on Monday and offered the team's ownership group an opportunity to give up to $800 million in tax credits while putting a plan in place to build the stadium on the former Riverfront State Prison. This site is near the Delaware River and just north of the Ben Franklin Bridge.
The Philadelphia 76ers are "seriously" considering relocating to New Jersey, per @ROINJNews
— NBACentral (@TheDunkCentral) September 4, 2024
“We have worked tirelessly for the past five years to build an arena in Philadelphia, and negotiations remain ongoing with city leadership regarding our proposal at Market East. The… pic.twitter.com/Y5lC9KqMSR
"The reality is we are running out of time to reach an agreement that will allow the 76ers to open our new home in time for the 2031-32 NBA season," Sixers spokesperson Molly Mita McEndy wrote in an email, per the Associated Press. "As a result, we must take all potential options seriously, including this one."
The 76ers have proposed building a new arena in the Chinatown neighborhood that would cost about $1.55 billion. The city has yet to approve this proposal, and time is running out for the 76ers.
The lease is set to expire in 2031, which means the stadium will no longer be called Wells Fargo Center. The bank stated that it would allow its naming rights to expire in 2025, which means the Sixers and the Flyers will have to find a new stadium name.
A move is unlikely for the team, but with time running out, New Jersey just might be the new home for the Sixers.
