One week ago, the Philadelphia City Council conducted a preliminary vote on the Philadelphia 76ers’ downtown arena, voting 12-4 in favor of the proposal. It seemed as though we were destined for the new arena to become a reality, and today, the ayes had it once again during the City Council’s final vote.
The Sixers’ downtown arena has been approved by a City Council vote of 12-5.
— Kyle Neubeck (@KyleNeubeck) December 19, 2024
Understandably, this is a momentous day for the Sixers’ ownership group, which will eventually see a huge bump in franchise valuation with the team owning its own arena, rather than operating under a lease.