In a stunning turn of events, the Philadelphia 76ers will remain at the sports complex in South Philadelphia instead of building a new basketball arena in Center City, according to multiple City Hall sources.
The decision is rooted in a deal struck with Comcast Spectacor, and comes more than two years after the team proposed the new arena. The NBA and the NFL helped broker the agreement, which ended the franchise’s second attempt to procure a home of its own.
Over the next decade, Comcast hopes to transform the sports complex into a year-round destination for work and play. The $2.5 billion proposal calls for new retail and restaurants, a music venue and a hotel.
When the master plan was announced in February, it did not specifically call for a new arena but did leave room for one. On Sunday, a labor leader said Comcast, which owns the Flyers and the Wells Fargo Center, had agreed to build a new “state-of-the-art” facility in the stadium district.
A Comcast spokesperson did not immediately respond to a request for comment.
Mayor Cherelle Parker, who strongly supported the arena project, is expected to hold a news conference at 11 a.m. Monday. Greenlighting the arena was a defining moment of her first year in office.
In December, City Council passed legislation authorizing the $1.3 billion arena. The 12-5 vote ended a contentious legislative process featuring hours of public testimony, intense closed-door negotiations and the forcible removal of several arena opponents from council chambers.
With the approvals in hand, the Sixers planned to build a privately funded arena atop SEPTA’s Jefferson Station at 10th and Market streets. The 18,500-seat facility would have replaced a third of the Fashion District mall.
The team argued the arena would help revitalize Market East, a disjointed stretch of retail, government buildings and tourist attractions that has struggled to thrive for decades despite millions in investment. The decision to remain in South Philly comes days after Macy’s announced it was closing 66 stores across the country, including the company’s iconic store at 13th and Market streets. A Sixers spokesperson did not immediately respond to a request for comment.