Sixers Abandon Center City Arena Plan; Will Build New Stadium in South Philly

It turns out the Philadelphia 76ers won’t build a $1.3 billion arena on Market Street after all.

The team will be reportedly be staying in South Philly, as they ultimately plan to build a new arena in the city’s stadium district.

The news first broke around 12 noon on Sunday (in a report first published by the Philadelphia Inquirer) that said the team had worked out a new deal with Comcast Spectacor (the owners of the Wells Fargo Center) to stay in South Philly.

READ MORE: Bad News for Center City! Historic Macy's Store to Close

The exact nature of the deal was not clear, but reports say they will build a new arena in South Philadelphia for both the Sixers and Flyers.

Ultimately they will demolish the Wells Fargo Center, which is the current shared home for the teams. The exact nature of the project was not immediately clear. 

Of course, the plan to abandon the team’s proposed home on Market Street has been met with mixed reactions. After months of outcry from residents of Chinatown and others opposing the arena, the contentious plan was ultimately approved in fiery City Council meeting in December 2024. 

Under that plan, developers planned to open that arena in 2031. The revitalization plan for Market Street East had been touted by Philadelphia Mayor Cherelle Parker.

The news is a bit of a blow to Parker's agenda. She is expected to address the news during a news conference late Monday morning, her office told the Inquirer.

READ MORE: Former CBS 3 Anchor Makes Shocking Move to 6abc

The Sixers, however, are allegedly are still involved in future planning for the development of East Market Street.

”The commissioner of the NBA was involved in it, and the commitment to Market Street redevelopment is still there,” Ryan Boyer, the head of the Philadelphia Building and Construction Trades council told the Inquirer. “We think that overall it will be good for the city. It’s just a pivot.”

The “timeline” for the new arena could be sooner than the originally planned 2031 opening of the Market East arena, council members told the Inquirer.