Wells Fargo Center will need a new name soon: Here's why

PHILADELPHIA - The home of the Philadelphia Flyers and 76ers is about to go through a major change.

Wells Fargo announced on Wednesday that they will not renew their naming rights when its contract runs out in August 2025.

The San Francisco-based bank took over the naming rights to the arena when it merged with Wachovia Bank in 2010.

They said the decision to end their sponsorship was one of "business."

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This is far from the first name change for the South Philadelphia arena.

It opened as the Corestates Center in 1996, and has had four different names over its lifetime.

So, what will the new name be?

Nothing has been revealed just yet, but Comcast Spectacor says they are "looking forward to working with a new partner."