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The Wells Fargo Center has long been the home arena for the Philadelphia 76ers, along with the Flyers and various concerts and events. Built in 1996 for approximately $210 million, the arena has served its purpose but is increasingly seen as lacking compared to more modern venues. The ownership of the 76ers has changed hands since its construction, and the current owners, led by Josh Harris, express the need for a more autonomous and technologically advanced facility.