Philadelphia, PA -- (Sports Network) - The Spectrum, home of the NHL's Philadelphia Flyers and NBA's Philadelphia 76ers for nearly 30 seasons, is set to close its doors next spring and will be demolished.

The building in South Philadelphia opened on September 30, 1967 with the Quaker City Jazz Festival. It was the home of the Flyers and 76ers until both teams moved into the nearby state-of-the-art Wachovia Center in 1996.

After the two major pro sports teams moved, the Spectrum became the home of the American Hockey League's Philadelphia Phantoms and indoor soccer's Philadelphia Kixx.

"This has been one of the hardest decisions I've ever had to make," said Comcast-Spectacor chairman Ed Snider. "The Spectrum is my baby. It's one of the greatest things that has ever happened to me, but after a lot of thinking and discussions, we all feel it is in our best interest to close the Spectrum at the conclusion of the upcoming 2008-09 Philadelphia Phantoms and Kixx seasons."

Comcast-Spectacor, the Philadelphia-based sports and entertainment company that owns the building, is hoping to have the Flyers and Sixers play one more game in the Spectrum this season.

"We are looking at the possibility of bringing a preseason Philadelphia Flyers game and a regular season 76ers game to the Spectrum this year, along with many other special surprises," said Comcast-Spectacor President Peter Luukko.

The Flyers beat the Boston Bruins in the Spectrum to win the first of their back-to-back Stanley Cup titles in 1974, while the 76ers captured the city of Philadelphia's last major pro sports championship in 1983 -- winning the first two games of the NBA Finals in the Spectrum before capturing the crown in Los Angeles against the Lakers.

One of college basketball's greatest games was also played at the Spectrum in March of 1992, as Duke's Christian Laettner took a length-of-the-court inbound pass and hit a turnaround jumper as time expired in overtime to give the Blue Devils a 104-103 victory against Kentucky in the NCAA Tournament's East Regional final.

It has yet to be determined when and how the Spectrum will be torn down.