Sixers seek $82M deal to build Camden facility

The 76ers are seeking an $82 million grant spread out over a decade to build a practice facility on Camden's waterfront, the state Economic Development Authority disclosed Monday.

The figure of $8,204,050 a year for 10 years is contained in the agenda for Tuesday's meeting.

On Friday, the franchise filed for tax credits with the State of New Jersey to build a 110,000-square-foot structure that will also house the basketball and business operations. The franchise hopes to begin construction in October and move in 2016.

In a team statement Friday, CEO Scott O'Neil would confirm only that the franchise filed paperwork for tax credits.

"We understand that the New Jersey Economic Development Authority will be voting on a possible facility on the waterfront at their upcoming meeting," he said in the statement. "We will have more to say on this matter after the EDA vote."

An NBA source said last week the Sixers were expected to seek a dollar-for-dollar deal - meaning that the team would receive credits to match the cost of the facility.

The Sixers have rented space to practice in the Philadelphia College of Osteopathic Medicine in West Philadelphia since 1999. But they have been looking for a site to build their own facility.

At a news conference in Camden Monday where Gov. Christie was touting the ongoing work to improve the city's struggling public schools, Christie said the move would be a positive change for Sixers employees, Camden, and New Jersey.

"It's not only good because of additional tax revenue and business but also for the image of the City of Camden to show the Philadelphia 76ers, one of the major sports teams in the region, has enough confidence in the strides we're talking about making here, that they're willing to invest significantly in the City of Camden," Christie said.

Earlier Monday, Christie said on the WIP Morning Show that while he was happy about the move, he doesn't see the Sixers playing games on the New Jersey side of the Delaware. The Jets and Giants use the New York name but play and practice in New Jersey.

"I think the Sixers are a Philadelphia team and they'll play in Philadelphia, but if they practice and spend a little time with their South Jersey fans, that's not bad," Christie said.