Partnership Will Create New Home for
Philadelphia 76ers and Philadelphia Flyers, and Venue for
Top Touring Acts and Special Events
** Mayor Cherelle Parker to Host Press
Conference at 11:30 AM at City Hall with City Council President
Kenyatta Johnson, Other Council Members, Comcast, HBSE and Comcast
Spectacor **
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.
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the full release here:
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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.
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.
“This is a great day for Philadelphia and the fans of our
storied sports franchises,” said Brian L. Roberts, Chairman and
CEO, Comcast Corporation. “We 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.”
“From 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,” said HBSE’s Josh Harris, David Blitzer, and David
Adelman. “We 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.”
“Today’s announcement is great news for the City of
Philadelphia,” said NBA Commissioner Adam Silver. “I 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 and Flyers fans, with
opportunities for more teams to come.”
“We're thrilled to see Comcast Spectacor and HBSE unite to
deliver a new state-of-the-art arena in South Philadelphia. For the
past 58 years, in both the Spectrum and Wells Fargo Center, those
arenas and Flyers’ 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,” said Gary Bettman, NHL
Commissioner.
The new arena partnership is a joint venture with equal board
representation and an HBSE representative serving as the Chair.
Comcast 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.
“We firmly believe we are better working together for
Philadelphia,” said Dan Hilferty, Chairman and CEO of Comcast
Spectacor. “This new arena will complement other exciting
developments in the area, including Comcast Spectacor’s and the
Philadelphia Phillies’ plans to create the country’s top sports and
entertainment district. We will all work closely together to create
an unmatched experience for the fans while developing a vibrant
mixed-use district that serves our community.”
About HBSE
Founded by Josh Harris and David Blitzer in 2017, Harris Blitzer
Sports & Entertainment (HBSE) is an industry-leading sports and
entertainment group, with a focus on building passionate, high
performing teams that strengthen our communities. Anchored in
sports, venues and ventures, HBSE’s diverse and global portfolio is
centered around marquee assets, including the Philadelphia 76ers,
New Jersey Devils and Prudential Center, Washington Commanders, Joe
Gibbs Racing, Crystal Palace of the English Premier League, as well
as a growing presence across MLB, MLS, youth sports, and more. As
proud stewards of some of the world’s most prestigious franchises,
brands and properties, HBSE is committed to using its platform to
positively impact the local communities where its teams play and
perform. For additional information on HBSE, please visit
HBSE.com.
About Comcast Corporation
Comcast Corporation (Nasdaq: CMCSA) is a global media and
technology company. From the connectivity and platforms we provide,
to the content and experiences we create, our businesses reach
hundreds of millions of customers, viewers, and guests worldwide.
We deliver world-class broadband, wireless, and video through
Xfinity, Comcast Business, and Sky; produce, distribute, and stream
leading entertainment, sports, and news through brands including
NBC, Telemundo, Universal, Peacock, and Sky; and bring incredible
theme parks and attractions to life through Universal Destinations
& Experiences. Visit www.comcastcorporation.com for more
information.
About Comcast Spectacor
Comcast Spectacor, a proven, innovative leader in sports and
entertainment, is part of the Comcast Corporation, a global media
and technology company that operates Comcast Cable, NBCUniversal,
and Sky. Headquartered in Philadelphia, Comcast Spectacor owns and
operates Wells Fargo Center, a world-class sports and entertainment
venue, as well as a diverse portfolio of professional sports teams
and entertainment entities. These include the National Hockey
League’s Philadelphia Flyers and the National Lacrosse League’s
Philadelphia Wings.
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version on businesswire.com: https://www.businesswire.com/news/home/20250110761092/en/
Media Contacts: HBSE
Dave Sholler (609) 992-1315 Molly McEndy (484) 433-7777 Comcast
Corporation Jennifer Khoury (215) 531-3296 John Demming (215)
429-4744 Comcast Spectacor Emily Malmstrom (704)
578-0907
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