Wachovia Center
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The Wachovia Center (formerly known as the CoreStates Center and the First Union Center) is an indoor arena located in Philadelphia, Pennsylvania. It is home to the Philadelphia 76ers of the NBA, the Philadelphia Wings of the NLL, the Philadelphia Flyers of the NHL, and the Philadelphia Soul of the AFL. Due to the 2004-2005 NHL Lockout, on occasion the Philadelphia Phantoms will play in the arena, and the arena has been used for all Phantoms playoff games during the season. The arena was completed in 1996 at a cost of $206 million, largely privately financed (though the city and state helped to pay for the local infrastructure).
The arena seats 21,600 for basketball and 19,519 for hockey. It has 126 luxury suites and 1,880 club seats. The arena was originally named for CoreStates Bank, which agreed to pay $40 million over 21 years for the naming rights, with additional terms to be settled later for an additional eight year period at the end of the contract. The naming rights were taken by First Union Bank in a merger in 1997 and then by Wachovia Bank in a 2003 merger with First Union.
The arena replaced the Spectrum, which still stands nearby and is used by the Flyers' American Hockey League affiliate, the Philadelphia Phantoms, the MISL Philadelphia Kixx, and the annual trip to Philadelphia by the Ringling Brothers Barnum & Bailey Circus. The Wachovia Center was built on the site of JFK Stadium.