SBD/August 8, 2013/Franchises

Josh Harris, 76ers Reportedly Involved In Bidding Process To Take Over Devils

The 76ers ownership group headed by Josh Harris is "now involved in the bidding" for the Devils, according to sources cited by Tom Gulitti of the Bergen RECORD. A source said that Harris' group "became involved after a sale agreement with a group headed by attorney Andrew Barroway technically expired last month without a deal being completed." The source added that Barroway’s group is "still heavily involved in attempting to buy the Devils ... and already has gone far down the road in reaching deals with the NHL and lenders." Another source indicated that Barroway was "to incrementally invest more money in the Devils until the sale was completed, with current owner Jeff Vanderbeek still maintaining a minority stake in the team -- the percentage of which was still to be determined." Whether Vanderbeek would "continue to own some stake if Harris' group were to follow through with its bid is unknown." Harris' group has owned the 76ers since '11, and is "believed to be interested in getting into the New Jersey/New York sports market" (Bergen RECORD, 8/8). In Newark, Eliot Shorr-Parks wrote it is "doubtful a move by Harris to buy the Devils would go over well with Sixers fans," as the Flyers are rivals with the Devils. Harris owning both the Devils and the 76ers also would "be very similar" to former 76ers Owner Ed Snider, who was "accused by many of ignoring the Sixers and focusing solely on the Flyers" (NJ.com, 8/7). SB NATION's Derek Bodner wrote the "provincial Philadelphia fans may have a *slight* issue embracing an owner who also owns the hated rival of their favorite hockey team" (SBNATION.com, 8/7).
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