The team, whose ownership group is led by investor Josh Harris, said it had formed a 50-50 joint venture with Comcast to replace its arena in the South Philadelphia stadium district by 2031. Comcast will also take a minority stake in the team and work together on the WNBA bid, the parties said in a joint statement Monday.

The Sixers owners say they will 'develop a variety of options' for the East Market Street site where they initially sought to build a venue.

Throughout the hour-long news conference, Mayor Parker said she is willing to put aside her ego and emotions and prioritize what is best for .