In 2008, Comcast Spectacor announced that the Wachovia Spectrum, the Phantoms' home since 1996, was going to be demolished to make way for Philly LIVE, a project which included a luxury hotel and entertainment district.

On February 4, 2009, it was announced that Comcast Spectacor has reached an agreement to sell the Phantoms to the Brooks Group of Pittsburgh.

On April 28, 2009, it was announced by the AHL's board of governors that approval had been given for the Brooks Group to officially move the Phantoms to Glens Falls.

[1] The Phantoms would be the second American Hockey League team to play in Glens Falls, New York, after the Adirondack Red Wings from 1979 to 1999.

However, due to construction delays on the new arena it was pushed back to 2014–15 and the franchise began play as the Lehigh Valley Phantoms.