New name for the home of the Flyers and 76ers
The home of the NHL’s Philadelphia Flyers and the NBA’s 76ers, located in Philadelphia, will have a new name.
From September 1st and until the 2030-2031 season, the venue will be called Xfinity Mobile Arena.
The announcement comes after banking giant Wells Fargo decided not to renew its agreement with Comcast Spectacor, owner and operator of the building and parent company of the Flyers, when it expires in August.
The financial terms of the agreement were not disclosed. It is estimated that Wells Fargo paid $1.4 million annually for the naming rights.
Inaugurated in 1996, the stadium, originally called CoreStates Center, has witnessed the performance of Philadelphia sports stars such as Allen Iverson, Eric Lindros, and Joel Embiid, in addition to hosting NCAA Tournament games. Over the years, the building has had several names, including First Union Center in 1998 and Wachovia Center in 2003. Wells Fargo acquired Wachovia and placed its name on the building with a capacity of approximately 21,000 spectators in 2010.
Last year, Comcast Spectacor completed a renovation project of the Wells Fargo Center with an investment of 400 million dollars.
Earlier this year, the 76ers announced their partnership with Comcast Spectacor, their current landlord, to build a new arena in South Philadelphia, abandoning a deal with the city to move downtown. Comcast will be the naming rights holder for the arena being developed through a joint venture between HBSE and Comcast Spectacor, which is scheduled to open for the 2031-2032 season.
