A new shared arena for the 76ers and Flyers is coming to the South Philadelphia Sports Complex as part of a 50/50 partnership between Comcast Spectacor and Harris Blitzer Sports & Entertainment, the Sixers' ownership group.

The stunning reversal comes as a relief to critics of the plan to put a $1.3 billion arena near City Hall at the edge of Chinatown. Mayor Cherelle Parker on Monday called the proposal “a win, win, win,

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.