After spending years trying to build their own arena downtown, the Philadelphia 76ers have announced that they will work together with Comcast, which owns the NHL's Philadelphia Flyers, to build a new arena in South Philadelphia, where venues for the four major teams in the currently reside.
They will each own 50 percent stakes in the project. Comcast will also buy a stake in the 76ers and its parent company, Harris Blitzer Sports and Entertainment, and work with them to bring a WNBA team to Philadelphia.
“This is a lot,” Philadelphia mayor Cherelle Parker said Monday at a press conference announcing the deal. “This a curveball none of us saw coming. Nevertheless we are here.”
Josh Harris admitted this was not the first plan but it is where the franchise “pivoted,” including after an intervention by NBA commissioner Adam Silver. Comcast CEO Brian Roberts also cited the role of the NBA and Silver in getting the two sides to work together.
