Negotiations over a potential collaboration between the ownership of the 76ers and the Flyers accelerated during the holidays after NBA Commissioner Adam Silver helped thaw relations.

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 Sixers owners say they will 'develop a variety of options' for the East Market Street site where they initially sought to build a venue.

After years of planning and ongoing debate, the planners behind a proposal to bring a Sixers arena to Center City have backtracked. Instead, the team will get a new arena in South Philly, an official claimed.

You may have heard that the Sixers’ Market East plans are kaput. They’re going to do the 50/50 thing in South Philly instead, and here’s the official press release confirming that: PHILADELPHIA, PA – January 13,

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.

Adam Silver played a big part in convincing the 76ers to change plans for their new arena. They will stay in South Philly.