Press release
Harris Blitzer Sports & Entertainment and Comcast Spectacor Announce Joint Venture to Build World-Class Arena in South Philadelphia as Well as Revitalize Market East
Partnership Will Create New Home for Philadelphia 76ers and Philadelphia Flyers, and Venue for Top Touring Acts and Special Events ** Mayor Cherelle Parker
About this update from Comcast Corporation
[{"type":"text","content":"\nPartnership Will Create New Home for Philadelphia 76ers and Philadelphia Flyers, and Venue for Top Touring Acts and Special Events\n\n\n** 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 **\n\n\n PHILADELPHIA--(BUSINESS WIRE)--\nHarris 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.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250110761092/en/\nSlated 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.\n\n\nBy 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.\n\n\n“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.”\n\n\n“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...