The Philadelphia 76ers are staying in South Philadelphia in the latest -- and likely final -- twist in their quest to build a new arena. The Josh Harris-owned 76ers and the NHL's Flyers (owned by Comcast Spectacor) made an announcement Monday morning that the two teams will continue sharing a home in the South Philly Stadium Complex and will build a new arena slated to open by 2031 in a "50-50 joint venture."
The news broke Sunday, and was a shocking reversal for the 76ers, who spent two-and-a-half years pushing for their own new arena in Center City, on the border of Philadelphia's Chinatown. The 76ers -- who also flirted with the idea of moving to Camden, N.J. -- even got key approvals from city lawmakers in December in a contentious vote. The two teams both currently play at the Wells Fargo Center in the Stadium Complex, an area the NFL's Eagles and MLB's Phillies also call home.
In addition to the arena announcement, the two ownership groups say they are also teaming up "to bid to bring a WNBA team to the city."
NBA commissioner Adam Silver and NHL commissioner Gary Bettman both had statements in the press release announcing the new arena deal. Silver said it was "great news for the City of Philadelphia."
"I greatly appreciate the leadership of Mayor [Cherelle] Parker and Governor [Josh] 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," Silver said."
A new arena deal has been a priority for the 76ers for some time. Comcast Spectacor used to own the 76ers, but sold them to Josh Harris in 2011. Comcast kept the Flyers, though, essentially making the 76ers tenants in the Flyers' arena.
The new model gaining steam across sports is to build stadium districts around the arena that become profit centers in their own right. The Clippers and Warriors, both of whom own their own arenas, are notable examples of this trend. This was seemingly the plan for the 76ers at Market Street. There has also been discussion of development plans at the existing sports complex.
In the process of planning the arena, though, the 76ers faced significant opposition from community groups. Two neighborhoods--Chinatown and Washington Square West -- would have bordered the proposed arena and were very much opposed to it due to concerns about traffic and rising costs. A 2024 poll showed that only 18% of Philadelphia residents citywide supported the project. The plan still made it through a City Council vote with the team contributing $60 million to a Community Benefits Agreement over 30 years.
But in the end, the Harris-owned 76ers have decided to stay put. Harris is also the owner of the NFL's Washington Commanders (and the NHL's New Jersey Devils), and his football team is looking to get a new stadium in D.C.
