To accommodate the Sixers' desire to have a new arena sooner rather than later, Comcast will begin planning the Wells Fargo Center's retirement almost immediately after celebrating its rebirth.
The Sixers owners say they will 'develop a variety of options' for the East Market Street site where they initially sought to build a venue.
Comcast plans to take a minority ownership stake in the 76ers as part of a deal with team owner Harris Blitzer Sports & Entertainment to build a new arena for the 76ers and Flyers in South Philadelphia.
The team's deal with Comcast Spectacor in South Philly includes investments on East Market Street, but few details are known.
The Sixers’ 2031 deadline also mattered, as did TV money the Sixers will indirectly receive from Comcast Spectacor.
What you should knowThe 76ers are going to remain in South Philly after abandoning their plan to build a new arena in Center City. Instead, the Sixers and Comcast Spectacor, which owns the Flyers and Wells Fargo Center,
The sudden turn of events comes after Philly City Council recently approved a controversial plan to build an arena in Center City near Chinatown.
“HBSE and Comcast will also immediately focus on Market East, bringing together government officials and local stakeholders to develop a variety of options to revitalize a vital neighborhood in Center City where the 76ers had originally proposed locating the arena,” the release read.
Harris Blitzer Sports & Entertainment (HBSE) and Comcast today announced that HBSE and Comcast Spectacor have entered into a binding agreement to
After years of posturing, planning, and protests, the Sixers are staying in South Philly after all. Well … that was a fun ride. After years of posturing, planning, and protests, the Sixers are staying in South Philly after all.
The ownership group of the Philadelphia 76ers and Comcast Spectacor announced plans to build a new arena in South Philadelphia.
To date, Comcast has increased its dividend for 17 consecutive years, with a 10-year dividend growth rate of 10.9%. Read more here.