City, business and sports leaders announced the plan to build a new arena in partnership in South Philadelphia. Check out their remarks. In a move that will likely stun many, the plan to bring a $1.3 billion arena to Market Street in Center City Philadelphia has been abandoned.

The deal comes just weeks after a grueling legislative battle in which the Sixers convinced City Council to give it the green light to move to Center City.

The 76ers will now build a new arena in the South Philadelphia Sports Complex in conjunction with media conglomerate Comcast Spectacor.