Comcast has sold the Wells Fargo Center naming rights to itself, marking another major step in the remaking of the South Philadelphia sports complex.
The 29-year-old arena, home to the NBA’s 76ers and NHL’s Flyers and owned by Comcast Spectacor, will become known as the Xfinity Mobile Arena following a naming rights deal between Comcast’s sports and entertainment division, arena partner Harris Blitzer Sports & Entertainment, and Comcast’s mobile brand.
The changeover will take effect Sept. 1, and will represent the fifth name for the venue following prior identities as the CoreStates Center, First Union Center, and Wachovia Center before it became the Wells Fargo Center in 2010. Financial terms of the new deal were not disclosed.
Wells Fargo said last year it would not retain the name after its contract expires this summer, as it is paring some of its sports sponsorships.
The Xfinity Mobile renaming will be a short-term effort, as Comcast Spectacor and HBSE recently reached a landmark deal to build a new, jointly owned arena in the sports complex that is targeted to open in 2031. Comcast will also have naming rights for that venue. As part of the broad-based agreement that includes a significant mixed-use component, Comcast Spectacor and HBSE, owner of the 76ers, are also jointly pursuing a WNBA expansion franchise, and if successful, that team could potentially start its existence in Xfinity Mobile Arena.
In addition to the 76ers and Flyers, the arena hosts the National Lacrosse League’s Wings, Villanova men’s basketball, and a steady stream of other college basketball events and concerts. Comcast Spectacor discussed the available naming rights with a mix of external companies before landing on Xfinity Mobile.
“Even though this is sort of an internal thing, this was no layup by any means,” Comcast Spectacor chief revenue and business officer Todd Glickman tells Front Office Sports. “This was a complex, deep process, and we talked with Xfinity Mobile like we did anybody else.”
As part of the broader deal between HBSE and Comcast that included the latter company acquiring a minority equity stake in the 76ers, the NBA team will team gain some revenue from the new naming rights deal after not doing so in the prior Wells Fargo pact.
Retooled Business
The Xfinity Mobile Arena agreement, meanwhile, also signals Comcast’s accelerating interest in the mobile business. Comcast’s core operations in cable television and internet connectivity are under pressure, and while its streaming service Peacock continues to add subscribers, the mobile business is a rising priority for the NBC Sports parent company.
“The agreement is a big growth opportunity for Xfinity Mobile,” Comcast VP of brand partnerships and activations Matt Lederer tells FOS. “Naming rights can be a great tactic to build awareness, and while a lot of our other products are quite established, the mobile business is an upstart brand.”
