US Dollar Slips as Weak Retail Sales Reduce Fed Rate Hike Bets 
France Inflation Rises 2.4% in July as Consumer Prices Increase 
Anthropic Eyes $6B Decart AI Acquisition Ahead of Mega IPO 
Trump Plans New Executive Order to Address Rising NIL Costs in College Sports 
Oil Prices Rise as U.S.-Iran Tensions Grip Strait of Hormuz 
Native American Groups Slam Trump’s Call to Restore Redskins Name 
Asian Stocks Steady as Iran War Keeps Oil Prices and Inflation Risks Elevated 
Marco Rubio Says U.S. Will Block IRGC-Linked Individuals From Iran World Cup Delegation 
Trump Imposes New Tariffs on Drone Imports Over US Security Concerns 
Gold Prices Rise as Weak US Data and Hormuz Risks Boost Safe-Haven Demand 
LG, Nvidia Expand AI Partnership With Humanoid Robots, AI Factories 
NBA Returns to China with Alibaba Partnership and Historic Macau Games 
Nvidia Eyes $3 Billion Investment in SoftBank-Backed AI Data Center 
Stripe, Advent Reportedly Pursue $53 Billion PayPal Takeover 
Canada Faces 50% U.S. Tariffs as Trade Tensions Threaten USMCA Talks 
FIFA Faces Investigation Over 2026 World Cup Ticket Pricing and Seat Allocation Issues 
Yen Edges Higher as Weak US Data Dampens Fed Rate Hike Expectations 
Add as a preferred source on Google
The Philadelphia 76ers of the National Basketball Association (NBA) will build a privately-funded arena named 76 Place located on a portion of the Fashion District in Center City.
The sports and entertainment venue project is being led by Philadelphia businessman David Adelman in partnership with the franchise’s owner Harris Blitzer Sports and Entertainment (HBSE).
Adelman, the Campus Apartments CEO, co-founder of FS Investments, and founder of Darco Capital, will serve as chairman of the newly-formed 76 Devcorp development company. He has been tasked with locating, designing and developing a destination for the arena.
The NBA team chose the Fashion District Philadelphia location because it is the most "transit-rich" area of Philadelphia, can be transformed into new commercial space, and offers a chance to contribute to Center City's ongoing revitalization.
It is estimated that the project will cost about US$1.3 billion. According to the 76ers, the arena will promote Philadelphia's long-term economic growth and sustainability by generating $1.9 billion in total economic output during construction and $400 million annually once it opens.
The construction is expected to be finished in time for the NBA season in 2031–2022. The lease for the 76ers' present home, the Wells Fargo Center, expires in 2031.
A multi-year, $250 million renovation of the Wells Fargo Center started in 2018. Since it opened in 1996, the arena has served as the 76ers' home court.
Moving the 76ers north will bring them closer to Philadelphia's city center and, in part, HBSE believes it will encourage greater community integration once the project is up and running. It's less than a six-mile drive from the Wells Fargo Center.
