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The NBA said today that an agreement was reached to build a new arena for the Philadelphia 76ers and the Philadelphia Flyers.
A joint venture between Harris Blitzer Sports & Entertainment (HBSE) and Comcast will build the new arena in the South Philadelphia Sports Complex. The Philadelphia construction project is expected to open in 2031.
Wells Fargo Center in the South Philadelphia Sports Complex is the current home to the Philadelphia 76ers and the Philadelphia Flyers. Image: Wells Fargo Center
The 170-acre South Philadelphia Sports Complex, comprised of Wells Fargo Center, Citizens Bank Park, and Lincoln Financial Field, collectively attracts 7 million fans and guests annually.
The NBA said, “By committing to both investments, the partnership will create thousands of jobs, generate billions of dollars in economic activity for the city, region, and state, and enhance commitments to create economic opportunity in neighborhoods across Philadelphia.”
In addition to the arena construction, the league announced an investment in revitalizing Market East in Center City. Details on the cost or scope of the project were not announced.
Developers and sports franchisees expect the new arena’s construction to complement City Center’s revitalization and create a top sports and entertainment district.
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