Flyers announce joint venture to build new arena ready for 2031
The Philadelphia Flyers will have a new home.
As revealed earlier Monday by Daily Faceoff’s Frank Seravalli, Comcast Spectacor, owner of the Flyers, has announced plans to develop a new arena in the South Philadelphia Sports Complex that is expected to open in 2031.
The joint venture will see Comcast Spectacor work in partnership with Harris Blitzer Sports & Entertainment, parent company of the New Jersey Devils as well as the NBA’s Philadelphia 76ers, a tenant of Wells Fargo Center. Additionally, Comcast Spectacor will assume a minority share in the 76ers and will assist in the basketball club’s efforts to bring a WNBA franchise to Philadelphia. As part of the agreement, Comcast Spectacor will have the naming rights of the new venue.
The 76ers had previously planned to construct a new home in Philadelphia’s Center City district, however Monday’s announcement will see the two sports franchises continue to play out of the same home arena within the South Philadelphia Sports Complex, also home to the MLB’s Phillies and NFL’s Eagles.
“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,” Dan Hilferty, Chairman and CEO of Comcast Spectacor, said in a statement. “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.”
Both the Flyers and 76ers have played out of Wells Fargo Center since 1996, currently the NHL’s 12th oldest arena. Wells Fargo Center holds 19,600 hockey fans, the NHL’s third-highest capacity arena behind the Montreal Canadiens and Chicago Blackhawks. Last summer, Wells Fargo Center completed a $400-million, multi-year renovation, a privately funded venture that transformed the arena’s technological capabilities, lighting, and fan entryways.
The Flyers previously played out of the Spectrum from the team’s inception in 1967 until the move to Wells Fargo Center in 1996, totaling 29 seasons and highlighted by the franchise’s back-to-back Stanley Cup championships in 1974 and 1975.