After it appeared the Philadelphia 76ers would construct a new arena at Market East in Center City, those plans have been scrapped and the 76ers will stay put in South Philadelphia – where a new building for them and the Philadelphia Flyers will eventually be constructed.
The new arena will be built at the South Philadelphia Sports Complex and is slated to open in 2031, with the potential to be accelerated to an earlier date.
Per Comcast’s and HBSE’s joint statement, “the new arena partnership is a joint venture with equal board representation and an HBSE representative serving as the Chair. Comcast will own the naming rights to the venue. HBSE and Comcast will also immediately focus on Market East, bringing together government officials and local stakeholders to develop a variety of options to revitalize a vital neighborhood in Center City where the 76ers had originally proposed locating the arena.”
Philadelphia City Council had voted just a few weeks ago to approve the 76ers’ plans to construct and open 76 Place by 2031, which has been met with plenty of opposition from residents in the area, mainly from Chinatown, since the planning stages.
“This is a great day for Philadelphia and the fans of our storied sports franchises,” said Comcast Chairman and CEO Brian L. Roberts. “We are grateful to Mayor Parker and Governor 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.”
“We’re thrilled to see Comcast Spectacor and HBSE unite to deliver a new state-of-the-art arena in South Philadelphia,” said NHL Commissioner Gary Bettman. “For the past 58 years, in both the Spectrum and Wells Fargo Center, those arenas and Flyers’ fans have consistently produced an atmosphere that is among the best in sports. This visionary and forward-looking facility will take the fan experience to a whole new level where the great pride and passion of Philadelphia sports fans will continue to be on full display.”
The partnership between both parties “will create thousands of jobs, generate billions of dollars in economic activity for the city, region and state, and enhance commitments to create economic opportunity in neighborhoods across Philadelphia,” according to the joint statement.
As part of this new partnership, Comcast is planning to take a minority stake in the 76ers and they will join HBSE to bid for a Philadelphia WNBA franchise as well.
“When we began this process, our goal was to do something the city of Philly could be proud of. To do the best thing for our fans and for the citizens, and to have the greatest positive impact,” HBSE’s Josh Harris said Monday. “At the Sports Complex, we will work together to build the very best arena in the country, a home for the Sixers and the Flyers that will bring the most exciting concerts and events to South Philly all year. And in Center City, HSBE and Comcast can work with the city and community to help revitalize Market East.”
The Flyers’ and 76ers’ current home, Wells Fargo Center, has stood since 1996. The arena also hosts the NLL’s Philadelphia Wings, Big 5 basketball matchups, and Villanova men’s basketball home games on occasion. A Comcast spokesperson said that the Wells Fargo Center is set to be demolished after the new arena is completed. A seven-year, $400 million renovation project for the building was just completed last year.
“We firmly believe we are better working together for Philadelphia,” said Comcast Spectacor Chairman and CEO Dan Hilferty. “This new arena will complement other exciting developments in the area, including Comcast Spectacor’s and the Philadelphia Phillies’ plans to create the country’s top sports and entertainment district. We will all work closely together to create an unmatched experience for the fans while developing a vibrant mixed-use district that serves our community.”
Comcast Spectacor has already announced plans for an estimated $2.5 billion development of the Sports Complex, broken up into phases. The first phase is supposed to see a $700 million investment alone for upgrades to Xfinity Live! as well as construction of a hotel, a concert venue, restaurants and shopping, and a new outdoor plaza. Phase one is expected to be completed in 2028.
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