Referencing ESPN twice in a day is like mortal sin to me, but when news like this comes out of nowhere, I can't bring myself to ignore it.
Henry Abbott of ESPN.com is reporting that according to sources, there are conversations to sell the Philadelphia 76ers and that a deal is "imminent".
Um, I had no idea that the Sixers were for sale, did you?!
If such a deal were to happen, the team would be sold to Joshua Harris, described in this piece as a "New York-based leveraged buyout specialist." Comcast Spectacor has owned the team since 1996, when Spectacor merged with Comcast (thus… the name… not rocket science, people).
This is indeed big news if it does go down, but diehard Sixers fans shouldn't worry too much. It doesn't look like the team will go anywhere in the event of a sale:
Comcast-Spectacor also owns the NHL's Philadelphia Flyers, and the Wells Fargo Center where both teams play. The company would continue to own and operate the arena with the Sixers as a tenant, according to sources.
Nothing has been announced or made official as of this writing. Abbott is the only writer reporting this story at the moment. More to come if or when it develops.
9 Responses
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Well now! That’s certainly interesting. I had no idea the Sixers were up for sale either. I thought Comcast-Spectacor would hold on to them forever. I guess that owning an NBA team wasn’t quite as entertaining, or financially rewarding as one might have thought. I’d love to know what went into this situation, how it all came about and what happens after the sale is finalized. However, if this means that Ed Snider is no longer the face of the Sixers as I’m convinced he’s never known which end of a basketball is up, then I’ll be happy.
NBC/Comcast just won the rights to televise the next 4 Olympics. That’s certainly going to cost a lot. I guess selling the 76ers should cover some of that.
Here is Philadelphia? We still have a team?
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