According to the Associated Press, Citigroup has bought out Wachovia Securities. Along with the sale will likely come an event Flyers and Sixers fans should be quite familiar with by now—the Center will get a name change due to the big-fish-little-fish ways of the banking world.
It was the CoreStates Center when it opened in 1996. In 1998 it became the First Union Center after First Union bought out CoreStates. The same thing happened in 2003 and it became the Wachovia Center. Now, it looks like it'll be called the "Citi Center."
This third name change raises a lot of questions. First off, are Philadelphians going to have trouble adjusting to the new name, even though it's a lot easier to say? Perhaps a new nickname will arise out of the frustration over the name constantly changing.
Calling it "The Cit" might lead to confusion with Citizens Bank Park, so that isn't a great choice. Maybe fans and reporters will give up on keeping up with the first part of the name, and just stick with "The Center" (just as many call the building across the street "The Spectrum").
After all, with the way things have been going for banks these days, another name change might not be too far off.
Another important question to consider is if Comcast-Spectacor will even bother renaming and rebranding the Spectrum. I suppose they'll have to legally, but it would be sort of silly.
Stay tuned to see if and when the name change takes place.