Despite the controversy surrounding the construction of a new arena, the Philadelphia 76ers and Philadelphia Flyers will have a new home after all. Harris Blitzer Sports & Entertainment (HBSE) and Comcast Spectacor have entered into a 50-50 joint venture to build a new arena in the South Philadelphia Sports Complex, the Flyers and 76ers announced Monday.
The new facility, which will be home to both NHL and NBA franchises, is set to open in 2031. The partnership also includes a 50-50 venture to invest in the resurgence of Market East in Center City. Additionally, Comcast is planning to take a minority stake in the 76ers and will join a bid with HBSE in hopes of bringing a WNBA team to the city.
“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.”
“We’re thrilled to see Comcast Spectacor and HBSE unite to deliver a new state-of-the-art arena in South Philadelphia. 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,” NHL Commissioner Gary Bettman said. “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 move comes as a surprise after most recent reports cited the 76ers decision to not move forward with plans to build a new $1.3 billion arena. The Philadelphia Inquirer reported Sunday that multiple council members confirmed the change in plans following the city’s initial approval of the project. Council members backed their initial feelings during Monday’s announcement.
“From day one the goal was to keep the Sixers in Philadelphia. Now some people say they were pump faking …. For me it sounds better to have the Philadelphia 76ers than the New Jersey 76ers,” said Council President Kenyatta Johnson.
The council voted on Dec. 19 to approve the downtown arena after more than two years of heated debate over the proposal and was approved in spite of concerns from local residents and activists who pushed back against the deal.
“This is a lot. This a curveball none of us saw coming. Nevertheless, we are here,” Philadelphia mayor Cherelle Parker said Monday after news of the joint venture was announced.
(Photo: Patrick Smith / Getty Images)