The Philadelphia 76ers NBA team has decided to abandon their plan to build a downtown arena and instead struck a deal with Comcast Spectacor to develop a new facility in the South Philadelphia Sports Complex.
Comcast Spectacor, which owns the current home of the Sixers, the Wells Fargo Center, also shares the arena with the NHL’s Philadelphia Flyers. The team had previously been planning a new $1.3 billion arena, initially called 76 Place. Last month, the Sixers received approval to move forward with this project after Philadelphia City Council voted 12-5 in favor of the scheme.
However, news emerged over the weekend that the 76ers would be scrapping these plans, and more details were shared today in a joint statement from Comcast Spectacor and Harris Blitzer Sports & Entertainment (HBSE), the parent company of the Sixers.
HBSE and Comcast Spectacor have agreed to form a 50-50 joint venture to build a new state-of-the-art arena at the South Philadelphia Sports Complex. This arena will serve as the new home for both the Sixers and the Flyers. The new facility is planned to open in 2031, though there is a possibility it could be ready earlier.
The two companies promised that the arena will be one of the most technologically advanced, sustainable, and high-quality sports venues in the United States.
In addition to the arena project, the partnership will also focus on revitalizing the Market East area in Center City, the original site for the 76 Place arena. This effort is expected to create thousands of jobs and bring billions of dollars in economic growth to the region.
Comcast is also planning to buy a minority stake in the Sixers and work with HBSE on bringing a WNBA team to Philadelphia. The new arena will be a joint venture, with equal representation on the board and an HBSE representative as chair. Comcast will hold the naming rights for the new venue.
Brian L. Roberts, chairman and CEO of Comcast Corporation, said, “This is a great day for Philadelphia and the fans of our storied sports franchises. We are grateful to Mayor (Cherelle) Parker and Governor (Josh) Shapiro for their leadership and are thrilled to work together to develop the premier sports and entertainment destination in the nation that will benefit the region for decades to come.”
HBSE’s Josh Harris, David Blitzer, and David Adelman added, “From the start, we envisioned a project that would be transformative for our city and deliver the type of experience our fans deserve. By coming together with Brian and Comcast, this partnership ensures Philadelphia will have two developments instead of one, creating more jobs and real, sustainable economic opportunity.”
NBA commissioner Adam Silver praised the announcement as “great news” for the city, while NHL commissioner Gary Bettman called the new facility a “visionary and forward-looking” venue that would greatly enhance the fan experience.
There have been no renderings released for the new arena, and its capacity has not yet been confirmed. More details will be shared at a press conference later today.
The 76 Place project, which was first announced in July 2022, would have had a seating capacity of 18,500. It faced significant opposition, particularly from the Chinatown neighborhood, with eight public hearings held to address concerns. Mayor Parker supported the project in September, despite objections from local residents.
The original plan was for the 76 Place arena to be ready for the 2031-32 NBA season, with construction starting in 2028 and demolition of the current site beginning in 2026.
However, with the new announcement, the Sixers will remain at the South Philadelphia Sports Complex, which also includes Lincoln Financial Field (home of the Philadelphia Eagles) and Citizens Bank Park (home of the Philadelphia Phillies).
Wells Fargo Center is currently undergoing a $400 million transformation, with a new marketing campaign launched by Comcast Spectacor in October 2023 to promote the renovation. The project will also focus on improving the surrounding Sports Complex area.
