It is a head-spin development from the fight the 76ers have lodged over the last two years when it sought to build a new arena in Chinatown and close to the city’s center, and as it went to battle with Comcast,

The Philadelphia 76ers and Comcast Spectacor announced, on Monday, plans to build a new arena in South Philadelphia that will open in 2031. The arena will also be home to the Philadelphia Flyers.

New Jersey had pitched a massive, multibillion-dollar mixed-use development and arena project on the Camden waterfront for the HSBE-owned team that also came along with generous incentives of up to $800 million in tax credits and up to $500 million of special purpose bonds.

The Sixers had gotten approval for a controversial new arena Center City, on the border of Chinatown, but changed plans.

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 will partner with Comcast Spectacor to build a new arena in South Philadelphia and abandon a deal to move downtown

A new arena for the Sixers and Flyers is coming to South Philadelphia in a 50/50 partnership with Comcast Spectacor and Harris Blitzer Sports & Entertainment.