Philly Leader

Harris Blitzer Sports & Entertainment and Comcast Spectacor have announced a joint venture to construct a new arena in South Philadelphia, intended to become the home of the Philadelphia 76ers and Flyers. The agreement, which involves a 50-50 partnership, also includes plans to revitalize Market East in Center City.

The new arena is expected to open in 2031, with possibilities for an earlier completion date. The facility aims to be one of the most technologically advanced and sustainable sports venues in the country. Additionally, the collaboration will focus on creating jobs and generating economic activity across Philadelphia. Comcast plans to take a minority stake in the 76ers and collaborate with HBSE to bring a WNBA team to the city.

“This is a great day for Philadelphia and the fans of our storied sports franchises,” stated Brian L. Roberts, Chairman and CEO of Comcast Corporation. He expressed gratitude towards Mayor Parker and Governor Shapiro for their leadership.

Josh Harris, David Blitzer, and David Adelman from HBSE commented on the project's transformative potential: “This partnership ensures Philadelphia will have two developments instead of one, creating more jobs and real, sustainable economic opportunity.”

NBA Commissioner Adam Silver welcomed the news: “Today’s announcement is great news for the City of Philadelphia.” NHL Commissioner Gary Bettman praised past achievements at previous arenas: “This visionary facility will take the fan experience to a whole new level.”

The joint venture includes equal board representation with an HBSE representative as Chair. Comcast holds naming rights for the venue. Efforts will begin immediately on revitalizing Market East by collaborating with government officials and local stakeholders.

Dan Hilferty, Chairman and CEO of Comcast Spectacor said: “We firmly believe we are better working together for Philadelphia.”