Comcast-Spectacor is expected to complete its sale of the 76ers to Apollo Global Management Senior Managing Dir Joshua Harris "in the next few business days," according to sources cited by Scott Soshnick of BLOOMBERG NEWS. One of the sources said that Harris "will pay about $280 million" for the NBA team. The prospective deal with Harris "doesn't include" the Flyers or Wells Fargo Center, also owned by Comcast-Spectacor (BLOOMBERG NEWS, 7/7). A source said that sides are "very close" to a deal. CSNPHILLY.com's Dei Lynam noted the reported $280M buying price would "look low compared to the last NBA team sold; the Golden State Warriors were sold last summer" to Joe Lacob and Peter Guber for a reported $450M. But the "difference is the Sixers’ new ownership group will not have access to two major revenue sources," since Comcast-Spectacor will continue to own the arena and CSN "has the television rights through 2029" (CSNPHILLY.com, 7/7). SPORTSBUSINESS JOURNAL's John Lombardo cites a source as saying that neither the "lockout nor the potential of lost games was ever factored into the terms of the franchise sale." The source: "There has been no impact at all from the lockout. Nobody is giving anyone any outs." Lombardo notes the "uncertainty surrounding the league isn't expected to change the approval process of the deal" (SPORTSBUSINESS JOURNAL, 7/11 issue).
