You may have heard that the Sixers’ Market East plans are kaput. They’re going to do the 50\/50 thing in South Philly instead, and here’s the official press release confirming that:<\/p>\n
\nPHILADELPHIA, PA<\/strong>\u00a0\u2013 January 13, 2025<\/strong>\u00a0\u2013 Harris Blitzer Sports & Entertainment (HBSE) and Comcast today announced that HBSE and Comcast Spectacor have entered into a binding agreement to form a 50-50 joint venture to build a world-class, state-of-the-art arena in the South Philadelphia Sports Complex that will be the new home of the Philadelphia 76ers and Philadelphia Flyers.<\/em><\/p>\n
Slated to open in 2031, with the potential to accelerate to an earlier date, the new facility will be one of the finest, most technologically advanced, and sustainable sports and entertainment arenas in the country. In addition, the partnership will include a 50-50 venture to invest in the revitalization of Market East in Center City.<\/em><\/p>\n
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, Comcast is planning to take a minority stake in the 76ers and will join with HBSE to bid to bring a WNBA team to the city.\u00a0<\/em><\/p>\n
\u201cThis is a great day for Philadelphia and the fans of our storied sports franchises,\u201d said Brian L. Roberts, Chairman and CEO, Comcast Corporation. \u201cWe are grateful to Mayor Parker and Governor Shapiro for their leadership and are thrilled to work together to develop the premier sports and entertainment destination in the nation that will benefit the region for decades to come.\u201d<\/em><\/p>\n
\u201cFrom the start, we envisioned a project that would be transformative for our city and deliver the type of experience our fans deserve. By coming together with Brian and Comcast, this partnership ensures Philadelphia will have two developments instead of one, creating more jobs and real, sustainable economic opportunity,\u201d said HBSE\u2019s Josh Harris, David Blitzer, and David Adelman. \u201cWe are grateful to Mayor Parker, Council President Johnson, Council Member Squilla, Governor Shapiro, our partners in labor and the many community and business leaders who supported us throughout this process. This is a massive win for our fans and for the city.\u201d<\/em><\/p>\n
\u201cToday\u2019s announcement is great news for the City of Philadelphia,\u201d said NBA Commissioner Adam Silver.\u00a0\u201cI 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\u00a0and Flyers fans, with opportunities for more teams to come.\u201d\u00a0<\/em><\/p>\n
\u201cWe’re thrilled to see Comcast Spectacor and HBSE unite to deliver a new state-of-the-art arena in South Philadelphia.\u00a0For the past 58 years, in both the Spectrum and Wells Fargo Center, those arenas and Flyers\u2019 fans have consistently produced an atmosphere that is among the best in sports. 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,\u201d said Gary Bettman, NHL Commissioner.<\/em><\/p>\n
The new arena partnership is a joint venture\u00a0with equal board representation and\u00a0an HBSE representative serving as the Chair.\u00a0Comcast will have the naming rights to the venue. 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.<\/em><\/p>\n
\u201cWe firmly believe we are better working together for Philadelphia,\u201d said Dan Hilferty, Chairman and CEO of Comcast Spectacor. \u201cThis new arena will complement other exciting developments in the area, including Comcast Spectacor\u2019s and the Philadelphia Phillies\u2019 plans to create the country\u2019s top sports and entertainment district. \u00a0We will all work closely together to create an unmatched experience for the fans while developing a vibrant mixed-use district that serves our community.\u201d<\/em><\/p>\n<\/blockquote>\n
Looking over that again, the line about Comcast taking a stake in the Sixers jumps off the page. My understanding was that they were taking a stake in the Sixers’ bid for a WNBA team, so maybe we’ll get some clarification there at the 11:30 press conference with Mayor Parker. Also notice that the Eagles are not mentioned, but the Phillies are. With three of the four teams now committed to this mixed-use plan, the football domino will be the last one to fall.<\/p>\n","protected":false},"excerpt":{"rendered":"
You may have heard that the Sixers’ Market East plans are kaput. They’re going to do the 50\/50 thing in South Philly instead, and here’s the official press release confirming that: PHILADELPHIA, PA\u00a0\u2013 January 13, 2025\u00a0\u2013 Harris Blitzer Sports & Entertainment (HBSE) and Comcast today announced that HBSE and Comcast Spectacor have entered into a […]<\/p>\n","protected":false},"author":208,"featured_media":210364,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"fbia_status":"","footnotes":""},"categories":[31,104],"tags":[19,2060,72,105],"class_list":["post-210362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-flyers-2","category-sixers","tag-flyers","tag-nba","tag-nhl","tag-sixers-2"],"acf":[],"yoast_head":"\n
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