Sixers arena study: 76 Place could cost $1 billion in lost tax revenue

A Sixers’ spokesperson has said the findings are based on the results of a commissioned study. The results of that study were not publicly released.

In a statement, the team said Acolin’s study is grounded in underlying research and citations that “do not actually reach the stated conclusions.”

“Amid this haphazard report’s myriad of issues, there is no explanation of how the researcher arrived at his data, assumptions, or conclusions. If it exists, we encourage the author to submit it to the City for independent analysis as we have done,” said spokesperson Mark Nicastre.

“This should be read for what it is: another attempt by those who oppose the project to obfuscate the truth by pumping out misinformation and half-baked theories instead of engaging in productive dialogue,” said Nicastre.

Bishop Dwayne Royster of POWER interfaith, a member of the Save Chinatown Coalition, said in a statement that the study “reinforces that 76 Place would be a monument to exploitation and come at a high cost to children, families, and taxpayers.”

“Lost wages for Black workers, the erasure of small businesses, and a loss of $1 billion in tax revenue will deepen existing inequality and harm the people who need the most and already get the least,” said Royster.

The Sixers hope to open the new arena in 2031, the same year its lease is up at the Wells Fargo Center. The project needs zoning approval before construction can start. That process is expected to play out in City Council later this year — after the impact studies are released.