The Mummers and the City of Philadelphia have reached an agreement in principle on a long-term contract for the New Year's Day parade, sources close to the talks said Tuesday.
A press conference to announce the agreement is scheduled for mid-Wednesday morning.
Just days before the Mummers were set to strut up Broad Street, parade organizers and the mayor's office still were without an signed contract that would hammer out costs and commitments from both sides.
The lack of an official deal left some worried that the city would revoke the Mummers right to march and cancel the parade.
City officials denied that claim, vowing that a deal was close.
Official details are unclear, but the Mummers were last set to contribute $144,000 in costs to the annual tradition, parade reps said.
Both sides were sparring after the city said they wouldn't be able to produce a detailed list of costs and copies of contracts other parades and festivals signed with the city.
Now, the parade's biggest foe is the weather. NBC Philadelphia meteorologists are forecasting a winter storm for Friday. If the parade is canceled because of weather, it will be rescheduled for either Saturday or Sunday.
