76ers sought arena ownership
The new arena will replace Comcast’s Xfinity Mobile Arena, where the Sixers and Flyers have played since it opened in 1996.
While Comcast has invested $400 million to renovate the current facility in recent years, in 2022, the Sixers owners said they wanted to build their own arena, called 76 Place, at 10th and Market streets.
They had chafed at the higher scheduling priority given to concerts and events over games at their South Philly home, and said they wanted a more extensively upgraded building. Comcast Spectacor Chairman Daniel Hilferty said he was willing to split ownership with the Sixers and give them half the revenue, but Harris Blitzer initially spurned the offer.
The plan drew fierce opposition, particularly from Chinatown activists who said the resulting traffic on game days and rising property values would harm local businesses and displace residents, threatening the community’s survival. Mayor Cherelle Parker campaigned around the city in support of the plan, saying it would help revive the struggling Market East retail corridor.
City Council approved a package of bills allowing the new arena in December 2024, but less than a month later, the Sixers organization stunned Parker and the city by announcing it was dropping the Center City arena plan and would instead partner with Comcast Spectacor to build a new arena in South Philly.
Under the agreement, Comcast acquired a minority stake in the Sixers. The two organizations also pledged to help revitalize Market East, in part by redeveloping buildings they acquired near the abandoned project site.
The announcement Tuesday moves up the stadium opening to 2030, one year earlier than previously planned. Comcast has also proposed a broader, $2.5 billion redevelopment plan for the sports complex, which would create new stores, restaurants, a music venue and a hotel, as well as housing and offices, potentially.