The Wells Fargo Center was originally called Spectrum II and was completed in 1996. It was built on the former site of John F. Kennedy Stadium at a cost of $210 million, largely privately financed, though the city and state helped to pay for the local infrastructure.
Since opening, it has been known by several different names through naming rights deals and bank mergers, including CoreStates Center from 1996 to 1998, First Union Center from 1998 to 2003, and Wachovia Center from 2003 to 2010. Since 2010, naming rights have been held by financial services company Wells Fargo, after their acquisition of Wachovia.