76ers' home searching for new stadium name, per report

The Philadelphia 76ers will reportedly see a major change in the coming years regarding their stadium name.

The Wells Fargo Center, home to the Sixers, the NHL's Philadelphia Flyers, and the National Lacrosse League's Wings, is apparently set to part ways with the professional teams once their contract ends. This timing seems convenient, as Philadelphia's management is hoping to build a new stadium in Center City, which will be known as '76 Place'.

"Wells Fargo & Co. plans to take its name off of Philadelphia’s sports arena when the bank’s contract expires next year," a report from Bloomberg reads . "The bank’s deal with arena owner, Comcast Corp., expires in August of next year, according to a spokesperson for the Philadelphia-based media and telecom giant."

The Wells Fargo Center was built in 1996, replacing the Spectrum II. There are roughly 21,000 seats available in the arena during Sixers games.

“Wells Fargo regularly reviews and adjusts our overall sponsorship strategy,” the bank said in a statement. “As such, we have made the business decision not to renew the naming rights contract to Wells Fargo Center.”