The Wells Fargo Center, originally called Spectrum II, was completed in 1996 to replace the Spectrum as the home arena of the 76ers and Flyers, on the former site of John F. Kennedy Stadium at a cost of $210 million, largely privately financed (though the city and state helped to pay for the local infrastructure). It is owned by Comcast Spectacor, which also owns the Flyers, and is operated by its arena-management subsidiary, Global Spectrum. Since opening, it has been known by a number of different names through naming rights deals and bank mergers, including CoreStates Center from 1996 to 1998, First Union Center from 1998 to 2003, and Wachovia Center from 2003 to 2010. Since 2010, naming rights have been held by financial services company Wells Fargo, after their merger with Wachovia.
In addition to hosting home games for its main tenants, the arena has been the site of a number of other notable athletic events including Games 1 and 2 from the 1997 and Games 3, 4 and 6 of the 2010 Stanley Cup Finals, Games 3, 4 and 5 of the 2001 NBA Finals, and various collegiate events for the National Collegiate Athletic Association (NCAA). Wells Fargo Center has hosted two political conventions, hosting the 2000 Republican National Convention and 2016 Democratic National Convention. The arena is a regular venue for concerts and WWE events. The arena has a concert seating capacity of 21,000 seated and at least 21,500 standing.