The team, whose ownership group is led by investor Josh Harris, said it had formed a 50-50 joint venture with Comcast to replace its arena in the South Philadelphia stadium district by 2031. Comcast will also take a minority stake in the team and work together on the WNBA bid, the parties said in a joint statement Monday.

The team's deal with Comcast Spectacor in South Philly includes investments on East Market Street, but few details are known.

Philadelphia Mayor Cherelle Parker is in her second year in office with an agenda to improve quality of life across the city. And, the new year is bringing change to the political landscape with Donald Trump assuming the role of president in two weeks.