Firstrust Bank, which earlier this month formed a corporate partnership with the 76ers, yesterday said that it is "providing the franchise with a $44 million construction loan for the team’s 125,000 square foot training complex and corporate office" in Camden, N.J., according to John George of the PHILADELPHIA BUSINESS JOURNAL. The complex "will house -- in addition to the team’s corporate offices and training complex -- two basketball courts; performance, recovery, and hydrotherapy rooms; and more than 10,000 square-feet of mixed-use commercial and conference space." Groundbreaking for the complex occurred in January '15, and the team "expects the project to be completed" by the end of this year (BIZJOURNALS.com, 1/25).
THIS OLD HOUSE: USA TODAY's Jeff Zillgitt notes the 76ers are "one of several NBA teams that have invested or will invest millions of dollars in practice facilities." Over the next three years, "at least one third of NBA teams will have new state-of-the-art practice buildings." The Raptors ($20M-plus) and Nets ($50M) will open new facilities in February, while the Lakers and Pacers "expect to finish new practice facilities" in '17. The Wizards' venue is "scheduled for completion" in '18, and the Bucks, Kings and Warriors "will have new practice digs when they move into new arenas." These facilities "are replacing outdated ones that lack modern necessities and amenities." The Wizards’ practice court inside the Verizon Center "has just one court." Basketball staffers’ offices "are spread throughout the arena." It is not designed for optimal performance for athletes or front-office employees." Many of these facilities "were built with a specific, aesthetic design: open spaces and fewer walls for transparency while fostering a collaborative effort among employees; an entrance that directs players by the offices of the general manager and head coach and by the kitchen and training/health rooms; plenty of glass for natural light and views." Teams "put significant thought into these buildings." 76ers GM Sam Hinkie "visited more than a dozen college and NBA facilities, soccer centers in Europe" along with the USOC's complex in Colorado Springs and the Australian and Austrian institutes for sport (USA TODAY, 1/26).
