What to know after Philadelphia mayor strikes deal with 76ers for Center City arena

Philadelphia Mayor Cherelle Parker said Wednesday she is throwing her support behind the 76ers' plan to build an arena in Center City.

In a video statement released Wednesday afternoon, Parker said she struck a deal with the team to "ensure that our Sixers are staying home."

"This is an historic agreement," Parker said in a video posted on the social platform X. "I wholeheartedly believe this is the right deal for the people of Philadelphia."

Parker said the deal for the arena represents $1.3 billion in private investment in the city, hundreds of millions of dollars of tax revenue for the city and the school district, and hundreds of jobs.
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