A new company is going to have to sponsor the home of the Philadelphia 76ers and Philadelphia Flyers after Wells Fargo announced Wednesday that it plans to drop its name from the teams’ arena, the Wells Fargo Center.
The move will come in 2025, as Wells Fargo chose not to renew the contract that gives its naming rights to the venue.
“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 Wells Fargo spokesperson told NBC10 Philadelphia in a statement.
“We look forward to collaborating on live entertainment and sporting events at the Wells Fargo Center through the end of our contract in August 2025.”
Wells Fargo has had naming rights for the arena for 14 years.