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Report: Philadelphia 76ers sale is 'imminent'?

Posted on: June 7, 2011 11:12 am
Edited on: June 7, 2011 6:15 pm
 
Comcast-Spectacor is reportedly in talks to sell the Philadelphia 76ers. Posted by Ben Golliver.

The Philadelphia 76ers enjoyed a nice bounceback season in 2010-2011 under new head coach Doug Collins, making the NBA playoffs one year after winning just 27 games. Is their ownership ready to cash out?

ESPN.com reports that the Philadelphia 76ers, who were not known to be for sale, could be sold in the near future.
Philadelphia 76ers owner Comcast-Spectacor is in talks to sell the team to a group led by New York-based leveraged buyout specialist Joshua Harris, according to sources. Negotiations are ongoing and a source with knowledge of the talks called a deal "imminent." 

Harris, 46, co-founded Apollo Global Management, which invests primarily in distressed properties, in 1990. In Forbes' 2011 billionaire rankings, Harris was reported to have a net worth of $1.5 billion.
Forbes.com recently valued the 76ers at $330 million, good for No. 17 out of the NBA's 30 teams.

Despite playing in a fairly large market, the 76ers were 25th in home attendance, drawing 14,700 fans per game.

On its website, Apollo Global Management describes itself as "one of the world's largest alternative asset managers" with "total assets under management of $70 billion, with a team of 500 employees located in ten offices around the world."
Comments

Since: Sep 8, 2006
Posted on: June 8, 2011 7:03 pm
 

Report: Philadelphia 76ers sale is 'imminent'?

Listen, the 76ers are FOR SALE. Not moving. One imbecile says move them to KC or Seattle and everyone stops using their brains. The internet has destroyed intelligent topical talk. Sheep following the herd. Use your brains, most do, but some need to pipe down. The 76ers are not moving.



Since: Mar 30, 2007
Posted on: June 8, 2011 10:00 am
 

Report: Philadelphia 76ers sale is 'imminent'?

Comparing the Sixers moving to the Warriors moving is two completely different animals.  You can't compare modern day sports decisions to past eras.  The money, TV contracts, league structure are all very different. Let's not forget that Seattle lost their franchise to Oklahoma City. I like both cities, but OKC is not exactly a massive metropolis.  I am a college hoops lover at heart too, but that doesn't mean you just give up on the Sixers.  They clearly have issues with talent identification, cap management, and as you highlighted, just the general people surrounding the organization.  You can tinker with coaches and management but it has grown to the point where you have to clean house and new ownership has the power to do that; no politics, no favorites.



Since: Oct 26, 2006
Posted on: June 8, 2011 8:18 am
 

Report: Philadelphia 76ers sale is 'imminent'?

Alright, where do I sign up to buy the Sixers and keep them in Philly?



Since: Jun 6, 2011
Posted on: June 8, 2011 8:11 am
 

Report: Philadelphia 76ers sale is 'imminent'?

Somebody is losing money buying the sixers. 



Since: Sep 8, 2006
Posted on: June 8, 2011 6:13 am
 

Report: Philadelphia 76ers sale is 'imminent'?

"Also the average age of a Sixers hard core fan is about 73." Making up your own stats. Whatever. How about you move to Seattle. Market size is king, Seattle has less than half the market of Philly. They are not moving, they are being sold, not moved. Where are you people hearing about moving the team? It hasen't been said except in this thread. Internet starting a rumor that doesn't exsist once again. Pathetic.



Since: Apr 8, 2009
Posted on: June 8, 2011 2:14 am
 

Report: Philadelphia 76ers sale is 'imminent'?

It has been reported locally that if sold the Sixers would be considered "renters" at the Comcast arena.  Sounds like the perfect angle to be able to move the team in two years to a place that actually wants basketball like Seattle.  To those of you who say we could never lose the Sixers please try to remember that we were once the Warriors and now they play somewhere else too.  To those of you who say its not possible for them to move because of marketsize please understand that the highest ratings the Sixers got this year were 48,000 households watching, Heck a pro team can get that kind of interest playing in Iowa.  Also the average age of a Sixers hard core fan is about 73.  The NBA is dead in Philly, the whole NBA culture is not a good fit with most Philadelphians.  We watch college basketball because we actually like basketball that has some rules, like the one where you can't take 4 steps without dribbling just because you are going to dunk.  College is basketball, the NBA is "hoops".  Good bye, Good riddance, make sure you take Jim Lynum and his annoying daughter Dee, and whatever you do don't forget to take Steve Mix and Eric Snow the two ABSOLUTE WORST play by play and color commentators in the league.  Oh and the whole averaging 14,700 a game is totally fictitious number and made up and completely skewed by the Sixers just giving tickets away for the second half of the season, the first twenty home games of the year were played in front of 5,000 people on a good night.  Just because someone bought the ticket doesn't mean anyone actually sat in the seat.



Since: Mar 30, 2007
Posted on: June 8, 2011 2:12 am
 

Report: Philadelphia 76ers sale is 'imminent'?

Holy Cow.  The Sixers are not leaving the Philadelphia region.  They have been to 6 finals, winning two, in the past 45 years.  No, that isn't Lakers/Bulls/Celtics type success, but there has never been a US-based franchise with such a storied history of post-season success that was moved.  The Sixers have been an after-thought to the Flyers for 30 years mainly because of Snider's fervor for ice hockey.  The team was in need of new investment, new focus, and new energy.  They have top flight facilities in the nation's 4th largest market with passionate sports fans.  Yes, these same fans have soured on the Sixers but it is hard to get excited for such a life-less group of players led by even a more disinterested management group.  Hopefully, new ownership will get creative by unloading the Brand and Iggy contracts, blow up the team, experience short-term colossal failure; and then re-build through free agency and the draft like the Celtics/Heat/Lakers/Bulls.





Since: Mar 20, 2010
Posted on: June 7, 2011 9:24 pm
 

Report: Philadelphia 76ers sale is 'imminent'?

Move em to Seattle. 



Since: Jun 20, 2009
Posted on: June 7, 2011 8:18 pm
 

Report: Philadelphia 76ers sale is 'imminent'?

Runor is Harris is thinking about buying the team and moving it to Winnipeg.




Since: Sep 12, 2006
Posted on: June 7, 2011 7:56 pm
This comment has been removed.

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