Philadelphia Mayor Cherelle Parker and members of the City Council will make a “major announcement” Monday following plans to build a new arena for the 76ers basketball team fell through over the weekend.
Parker, City Council President Kenyatta Johnson and other council members will speak at 11:30 a.m. You can watch the press conference live in the video player above or on our CBS News Philadelphia streaming channel.
Not only have plans to build the new arena, known as 76 Place, now failed to get off the ground in the city’s Market East neighborhood, but Harris Blitzer Sports & Entertainment (HBSE) and Comcast announced Monday that they have reached an agreement have entered into build a new home for the Sixers and Philadelphia Flyers at the South Philadelphia Sports Complex.
The 76ers are currently playing at the Comcast Spectacor-owned Wells Fargo Center in South Philadelphia.
HBSE and Comcast said Monday that the partnership also includes a “50-50 venture to invest in the revitalization of Market East in Center City.”
Less than a month ago, the City Council passed a series of bills related to the construction of 76 Place, following several weeks of contentious hearings and public comment sessions with the city, Sixers and community stakeholders.
Philadelphia Mayor Cherelle Parker formally agreed to the plan to move the team to Center City in September 2024.
Councilman Mark Squilla, who introduced the package of bills that passed in December, said in a statement Monday that he was told over the weekend that 76 Place would not be built in Market East, and that a deal was instead struck to arena to be built in South Philadelphia. “My goal has always been to revitalize Market East, and I am pleased that the Sixers and Comcast have committed to being part of the regeneration of this area,” he said. “We need private partners to share our vision for a new and improved market in the East.”
This is a development story. CBS News Philadelphia will provide more details as new information becomes available.
