What you should knowThe 76ers are going to remain in South Philly after abandoning their plan to build a new arena in Center City.Instead, the Sixers and Comcast Spectacor, which owns the Flyers and Wells Fargo Center,

The Philadelphia 76ers are staying in South Philadelphia in the latest -- and likely final -- twist in their quest to build a new arena. The Josh Harris-owned 76ers and the NHL's Flyers (owned by Comcast Spectacor) made an announcement Monday morning that the two teams will continue sharing a home in the South Philly Stadium Complex and will build a new arena slated to open by 2031 in a "50-50 joint venture.

The Philadelphia 76ers and Comcast have come together on plans to build a new arena in South Philadelphia, abandoning plans to build a $1.3 billion arena

Moving forward, the Sixers are still in progress to have a new arena by 2031. However, the will be remaining in the city's "stadium district." This announcement came after reports emerged that NBA commissioner Adam Silver and NFL commissioner Roger Goodell held a meeting with the higher-ups of the franchise.