There's a new home in the works for the Broadstreet Bullies.
The Philadelphia Flyers are set to announce plans for a new arena in South Philadelphia on Monday and are continuing to operate alongside the NBA's Philadelphia 76ers per Daily Faceoff's Frank Seravalli.
"On the heels of $400+ mil renovation of Wells Fargo Center completed last summer, #Flyersare set to announce plans today for a new arena in South Philadelphia in joint partnership with @sixers. Dramatic reversal of 76ers move to Center City. Big win for #Flyers' future," Seravalli said on X.
On the heels of $400+ mil renovation of Wells Fargo Center completed last summer, #Flyers are set to announce plans today for a new arena in South Philadelphia in joint partnership with @sixers.
Dramatic reversal of 76ers move to Center City.
Big win for #Flyers' future.
The Flyers will be moving from Wells Fargo Center, their home since 1996, on the heels of the 76ers' new-arena announcement back in the summer of 2022, which had been projected to be finished by 2031.
The Wells Fargo Center recently finished a renovation project valued at more than $400 million. According to Seravalli, both the recent upgrades and the planned future developments for the arena will be entirely financed through private funds, with no taxpayer money involved.
Although neither the teams nor the City of Philadelphia have made an official statement, the 76ers' decision to abandon their arena plans suggests that something new is on the horizon for South Philadelphia.
The Flyers and 76ers have shared an arena since the Flyers' inception in 1967, and that arrangement is expected to continue for the foreseeable future.
In the 76ers' original press release, improving the local community by creating jobs from this arena was a core focus of the franchise's vision.
"The Philadelphia 76ers are a storied Philadelphia institution with a proven track record of investing in their community. That's why we're committed to building a world-class home in the heart of the City and creating a privately funded arena that strengthens ties within the local community through investments that prioritize equity, inclusivity and accessibility," said Josh Harris, 76ers Managing Partner. "David Adelman shares our vision for ensuring that the new arena is an anchoring force in the local community, creating well-paying jobs and economic opportunities for those who need them most."
The 76ers targeted the Fashion District as the appropriate location to accomplish this economic mission for the community.
"The Philadelphia 76ers' extensive evaluation of potential sites for an arena over the past two years culminates today with plans to pursue the Fashion District Philadelphia site as the proposed new home of the team," said Adelman. "The chosen location is a key step in the process of developing a destination that provides Center City and surrounding communities with an economic engine generating activity through 76ers and youth games, concerts, events and more."
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