The new arena for the Philadelphia 76ers and Flyers will be in the South Philadelphia Sports Complex, which is also where they currently play in the Wells Fargo Center. The state-of-the-art arena will be built in a partnership between Harris Blitzer Sports & Entertainment (HBSE) and Comcast Spectacor, the companies said in a news release on Monday. Jan. 13.
The arena billed as "one of the finest, most technologically advanced, and sustainable" arenas in the U.S. is expected to open by 2031 but could be ready for events sooner.
"This is a great day for Philadelphia and the fans of our storied sports franchises,” said Comcast Corporation CEO and chair Brian Roberts. "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."
The announcement comes a few weeks after Philadelphia leaders approved a plan to build a $1.3 billion arena near City Hall at the edge of Chinatown, the Associated Press reported. The Center City proposal would have put an 18,500-seat arena in a greater redevelopment of the abandoned Market East retail corridor, which runs eight blocks from City Hall to the Liberty Bell.
Along with the South Philly arena, the HBSE-Comcast partnership will include a 50-50 venture to invest in the revitalization of Market East.
"From the start, we envisioned a project that would be transformative for our city and deliver the type of experience our fans deserve," said HBSE's Josh Harris, David Blitzer, and David Adelman. "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."
New Jersey had also pushed for the Sixers to move across the Delaware River. Gov. Phil Murphy offered $400 million in tax breaks to build a new waterfront arena in Camden, where the team has its practice facility.
After the political negotiating, the NBA and NHL teams will end up staying in the same neighborhood as the Wells Fargo Center. The current arena also hosts some Villanova Wildcats basketball games, the Big 5 Classic college basketball tournament, the National Lacrosse League's Philadelphia Wings, and other non-sporting events like concerts.
Comcast also plans to take a minority stake in the 76ers and join HBSE in bidding to bring a WNBA team to the city.
"We firmly believe we are better working together for Philadelphia," said Comcast Spectacor CEO and chair 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."
NBA and NHL leaders praised the deal.
"Today’s announcement is great news for the City of Philadelphia," NBA Commissioner Adam Silver said. "I greatly appreciate the leadership of Mayor Parker and Governor Shapiro and the willingness of HBSE and Comcast to join forces, the result of which will be a world-class arena for 76ers and Flyers fans, with opportunities for more teams to come."
"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," said NHL Commissioner Gary Bettman. "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 new arena in the South Philly Sports Complex will join Lincoln Financial Field, Citizens Bank Park, and the Xfinity Live! retail and entertainment center.
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