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Arena Closing May Be Positive Development

PHILADELPHIA-Sources say the Spectrum, which will close in 2009, is more valuable as a hospitality, retail or entertainment site than an arena now.

By Casey Freeman | Updated on July 16, 2008

PHILADELPHIA, PA-The Spectrum, former home to the last championship teams Flyers and 76ers, will close its doors after the 2008-2009 seasons of the hockey and indoor soccer seasons, according to the Comcast-Spectacor. The Philadelphia-based sports and entertainment firm, which owns the arena, will close the Spectrum after 41 years.

“This could be a positive development for Philadelphia. When it gets built it will have a positive effect on Philadelphia,” Jonathon Stavin, first vice president of CB Richard Ellis, tells GlobeSt.com. “Comcast-Spectacor certainly has the experience and money to make the site profitable.”

The Fliers and 76ers spent nearly 30 years at Spectrum, and then moved to the close by Wachovia Center in 1996. The minor league hockey team the Phantoms and the indoor soccer team the Kixx currently play home games at the arena, but will need to find new places to play after 2009.

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