A sudden reversal in plans to move the 76ers' arena to near Philadelphia’s Chinatown has left activists breathing a little easier while still feeling some distrust.

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.

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,

Comcast Corp. and Harris Blitzer Sports & Entertainment agreed to a 50-50 joint venture to build the NBA’s Philadelphia 76ers and hockey’s Flyers a new arena in the South Philadelphia Sports Complex.

Comcast (NASDAQ:CMCSA) has taken a minority stake in the Philadelphia 76ers basketball team, according to a press release from Monday. The media and cable giant has signed a 50/50 joint venture with Harris Blitzer Sports & Entertainment (HBSE) to build a new arena in the South Philadelphia Sports Complex for the NBA team and for the Philadelphia