In a move that will likely stun many, the plan to bring a $1.3 billion arena to Market Street in Center City Philadelphia has been abandoned.
On Sunday, around noon, a union representative and city official confirmed with NBC10 that the team has worked out a new deal with Comcast Spectacor and has backpedaled on a plan that would have brought an arena to the area of the intersection of Market and Filbert streets at 10th and 11th streets.
Ryan Boyer, president of the Philadelphia Building & Construction Trades Council, told NBC10’s Lauren Mayk that instead, the team plans to demolish Wells Fargo Center and will eventually build a new arena in South Philadelphia for the Sixers and Flyers.
“We actually get more jobs,” Boyer said. “For the building trades, this is good news.”
However, Philadelphia City Councilmember at-large, Jim Harrity, said he was disappointed in the surprise move. In fact, he said, he felt “bamboozled.”
“I feel completely bamboozled,” Harrity said. “I’m not going to forget this… I feel they not only bamboozled me but bamboozled the citizens of Philadelphia and I’m not going to forget that.”
Harrity said the he is upset that the city’s schools won’t get the promised money from taxes the new arena would bring.
The plan had been approved by Philadelphia’s City Council late last year.
The plan had long been a contentious one, with many residents in communities closest to the project site protesting against it since it was initially proposed.
In the late months of last year, in the run up to a City Council vote on the project, city officials — including Mayor Cherelle Parker — met with members of the community all across the city to determine the future of the project.
Before City Council eventually approved the plan on Dec. 19, 2024, a main issue with the project was just how much funding would be included in community benefits agreement. Initially, developers proposed a $50 million agreement, but residents closest to the project called for more — as much as $300 million.
Eventually, City Council approved the plan with a $60 million community benefits agreement.
Developers had planned to begin development this year and open the arena in 2031.
The specifics of the deal that lead to the decision to stay in South Philadelphia have not yet been provided by officials.
But, according to a source with information on the situation, the Sixers and Flyers are expected to partner on a new arena in South Philadelphia with Comcast Spectacor.
The Sixers and Comcast Spectacor will also work on a revitalization project for the Market East neighborhood in Center City Philadelphia, according to the source.
A press conference on the decision is expected to be held on Monday morning, Jan. 13, 2025.
Contacted on Sunday, officials with the Sixers, Comcast and the City of Philadelphia, did not immediately return requests for comment.
This is a breaking news story. It will be updated as new information becomes available.
