The city had approved a plan for a new arena in a struggling part of downtown. But on Monday, the Sixers said a new venue would be built near their current one instead.

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.

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 ownership groups of the Philadelphia 76ers and Flyers announced plans to build a new arena in South Philadelphia that would open in 2031.

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.

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.