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Sixers about to be sold


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Ed Snider / Comcast Spectacor is close to a deal to sell the Sixers to Wharton grad Joshua Harris and another investor / Wharton grad.

The deal may be under $300 M, which sounds tiny for a team in a market like Philadelphia, but Comcast Spectacor owns the arena and the TV rights for the next 20 years or so, so the team would really be more like a toy for this guy as opposed to a real investment.

Ed Snider, who I feel is one of the best owners in all of sports, had no business running a basketball team. He loves the Flyers, and buying the Sixers was really only done as part of his merger with Comcast so that they could get another tenant for their new building (the Sixers were signed to play in Camden New Jersey until the sale) and provide programming for their new network (Comcast SportsNet, replacing PRISM.)

He just didn't care about basketball, couldn't stand the prima donna players and their attitudes (HATED Allen Iverson), and other than when he had Pat Croce as president, never made any good front office decisions. It would be great for this franchise to have some new blood - especially someone with deep pockets, as the terms of this sale will make it very difficult for anyone to come in and actually make money with the team.

Here's a page with a bunch of articles about this.

http://www.philly.com/philly/sports/sixers/

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