This story originally appeared on 6abc.
Wells Fargo says it will be taking its name off the South Philadelphia sports arena next year when its contract expires.
“Wells Fargo regularly reviews and adjusts our overall sponsorship strategy. As such, we have made the business decision not to renew the naming rights contract to Wells Fargo Center,” a spokesperson said in a statement.
The center is owned by Comcast Spectacor and is home to the Philadelphia 76ers and Flyers.
Since opening in 1996, there have been several name changes over the years including CoreStates Center (1996 to 1998), First Union Center (1998 to 2003), Wachovia Center (2003 to 2010), and Wells Fargo Center (2010- present).
The naming rights contract expires in August 2025.
Read the full statement released by Wells Fargo below:
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