76ers, Flyers Partner for New South Philadelphia Arena in 50-50 Venture, Eye 2031 Opening and WNBA Team

Jan 13, 2025, 02:53 PM

The Philadelphia 76ers have abandoned their plans to build a new arena in Center City and have instead agreed to a 50-50 joint venture with Comcast Spectacor to construct a new state-of-the-art arena in the South Philadelphia Sports Complex. The new facility, set to open in 2031, will serve as the home for both the 76ers and the Philadelphia Flyers. The decision marks a significant shift from the team's previous efforts to relocate to Center City, which had been approved by the Philadelphia City Council just weeks ago. The partnership also includes a commitment to revitalize the Market East area in Center City, where the 76ers had originally planned to build their arena. Additionally, Comcast will acquire a minority stake in the 76ers and the two companies will jointly pursue bringing a WNBA team to Philadelphia. Comcast will also have the naming rights to the new arena.