Philadelphia Mayor Cherelle Parker has announced a deal to build a new $1.3 billion arena for the Philadelphia 76ers in Center City, a move she described as 'the best financial deal ever entered into by a Philadelphia mayor for a local sports arena'. The proposal, which will be sent to city council for approval, promises significant economic benefits, including hundreds of millions in tax revenue and job creation. Despite these promises, the plan faces strong opposition from Chinatown residents concerned about the potential negative impact on their community. The team owners have pledged to create a privately funded facility that prioritizes equity, inclusivity, and accessibility, while also boosting the local economy. This decision comes shortly after New Jersey offered substantial tax incentives to relocate the team to Camden.