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Seeking to lure the Philadelphia 76ers across the river, New Jersey is offering up to $400 million in tax credits and outlining plans for a sprawling mixed-use waterfront development. In a letter dated Monday, Gov. Phil Murphy's administration said it envisioned a multibillion-dollar plan in the city of Camden featuring residential, commercial and retail properties, with the Sixers as an anchor. The pitch from Economic Development Authority CEO Tim Sullivan comes as the team and Philadelphia negotiate over a future $1.3 billion arena the team had announced for the city's Chinatown neighborhood. The team has said it doesn't plan to stay at the Wells Fargo Arena in the city's stadium district past 2031 when its lease is up.
New Jersey Governor Phil Murphy and his economic development agency on Monday sent a letter detailing the offer to Harris Blitzer Sports & Entertainment, the owner of the National Basketball Association franchise. The firm was created by David Blitzer, a senior executive at Blackstone Inc., and Josh Harris, a co-founder of Apollo Global Management Inc.
New Jersey’s government is indeed courting the Philadelphia 76ers to move across the Delaware River to the Garden State, Gov. Phil Murphy confirmed Monday. ROI-NJ reported last week that state officials in Murphy’s administration are making a pitch to the ownership of the NBA franchise to move to Camden as talks to build a new arena in Philly have been bumpy.
Phil Murphy: A huge shout-out to the Joe and Clara Tsai Foundation, which has stepped forward and delivered 150,000 surgical masks and nearly 198,000 N95 masks. These are sorely needed. To Joe and Clara Tsai, and their team at the Tsai Foundation, we cannot thank you enough.
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State lawmakers have passed a bill that loosens New Jersey’s sports betting restrictions by reworking the team owner prohibition. It’s now up to Gov. Phil Murphy to sign the measure into law or veto it.
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