The Philadelphia 76ers have announced the construction of a new privately funded $1.3 billion stadium for the city’s basketball team. This news comes in the wake of James Harden taking a $15 million pay cut to sign more players for the team. In a recent interview, James Harden revealed that he’s willing to take a financial hit to win a championship.

In fact, Harden recently agreed to take a $15 million pay cut to allow the 76ers to sign more players for a well-rounded roster. The 32-year-old revealed that he desperately wants to win a championship in the next few years. Therefore, he’s willing to sacrifice his $47.4 player option for the upcoming season and settle for a two-year $68 million deal.

As a result, the 76ers will have more cap space to afford suitable pieces required to contend for a title. Harden took his decision after discussions with the president of basketball operations, Daryl Morey.

76ers announce new stadium after James Harden takes a massive pay cut

Meanwhile, managing partners Josh Harris and David Blitzer announced on Thursday that the 76ers will build a new stadium in the city’s Fashion District. The project will take place in ‘Center City’ and will cost about $1.3 billion.

The company 76 Devcorp has received the responsibility for the construction. The Sixers now play at the Wells Fargo Center in the South Philadelphia Stadium district.

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Meanwhile, Harris and Blitzer have stated that the project will generate several well-paying jobs. Moreover, it will also accelerate the development of the Fashion District.

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In terms of numbers, the stadium is projected to generate a revenue output of $1.9 billion during construction. After the opening of the venue, by 2031, the output will be about $400 million per year.

The Philadelphia 76ers in the upcoming season

The Philadelphia 76ers have signed P. J. Tucker from Miami in a three-year $33 million deal. The organization has also promised an $8.5 million two-year deal to Harden’s former Rockets teammate, Danuel House.

In other words, Harden’s sacrifice has really helped Philly to expand their options. The 2018 MVP attracted much criticism after his lackluster performance in the 76ers’ second-round exit in the playoffs.

However, the 10-time All-Star has displayed a sense of urgency this offseason. It is clear from his actions that he desperately desires a title.

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Can the 76ers win it all next season? Let us know in the comment section.