“HBSE and Comcast will also immediately focus on Market East, bringing together government officials and local stakeholders to develop a variety of options to revitalize a vital neighborhood in Center City where the 76ers had originally proposed locating the arena,” the release read.

The Sixers owners say they will 'develop a variety of options' for the East Market Street site where they initially sought to build a venue.

The stunning reversal comes as a relief to critics of the plan to put a $1.3 billion arena near City Hall at the edge of Chinatown.