SBD/June 7, 2011/Franchises

Comcast-Spectacor Reportedly In Talks To Sell 76ers To Joshua Harris-Led Group

Comcast-Spectacor is "in talks to sell" the 76ers to a group led by N.Y.-based Apollo Global Management Senior Managing Dir Joshua Harris, according to sources cited by Henry Abbott of ESPN.com.  Negotiations are ongoing and a source called a deal "imminent." Harris' partners in the deal include David Blitzer, Senior Managing Dir & co-Chair of Blackstone's Private Equity Group, and former Kings Senior VP & Assistant GM Jason Levien. Comcast-Spectacor Chair Ed Snider has controlled the 76ers since '96, "the same year Spectacor merged with Comcast." The company also owns the Flyers and Wells Fargo Center, where both teams play. Sources said that Comcast-Spectacor "would continue to own and operate the arena with the Sixers as a tenant." The Harris-led group would become the "sixth owners in the club's 65-year history." The 76ers "were not known to have been for sale" (ESPN.com, 6/7).
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