Wednesday, July 13, 2011

Comcast-Spectacor has sold the Sixers

The long awaited deal is finally done! No, not the NFL or NBA lockouts; Comcast-Spectacor has finally completed their sale of the Sixers, for 280 million, to a group of investors led by billionaire Joshua Harris. The new ownership group will own 90% of the team with Comcast retaining 10%.

On the surface, not much will change for the Sixers; they will still play in the Wells Fargo Center, though they will now be tenants. It isn't known at this time if any front office changes will be made, though given all of the changes over the last few years, the new owners might want some continuity. Let's hope this new group of owners is more interested in the on-court product and less interested in making a profit.

This deal has nothing to do with the Flyers, who Comcast-Spectacor also owns. Don't count on them being sold off as long as Ed Snider is alive.

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