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76ers to be sold

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Old
06-07-2011, 11:14 AM
  #1
JagerPuck
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76ers to be sold

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A report posted on ESPN.com quotes the source, identified only as someone with knowledge of the talks, as saying 76ers owner Comcast-Spectacor is in talks to sell the team to a group led by New York-based leveraged buyout specialist Joshua Harris.
http://abclocal.go.com/wpvi/story?se...rts&id=8175272

This is news to me and basically everyone as no one had any inkling the team was being shopped. Hopefully the new owner can bring in some real talent and make us excited for Sixers ball!

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Old
06-07-2011, 11:16 AM
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Jester
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Ah... this is a potentially devastating signal about the state of the NBA. As a business entity, the Sixers had a LOT going for 'em. So, if Comcast wants out on ownership of the Sixers that's a clear sign that they don't view the league in all that positive a light.

The next owner will also not have nearly the business situation that the Sixers were in, tied to an arena and TV network.

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06-07-2011, 11:22 AM
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GKJ
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The team actually had been shopped for a quite a while. At least twice a sale has fallen through. Dr. J. was involved in one of those.

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06-07-2011, 11:37 AM
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Meh. As long as Uncle Ed keeps the Flyers I could care less what he does with Comcast, Sixers, etc.

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06-07-2011, 11:45 AM
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Jester
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Quote:
Originally Posted by DrinkFightFlyers View Post
Meh. As long as Uncle Ed keeps the Flyers I could care less what he does with Comcast, Sixers, etc.
You realize Snider doesn't actually own Comcast, right? They could theoretically sell their portion of the Flyers tomorrow and I doubt Snider could do anything about it. He has his personal share of the organization... he owns about 1/3 of the Flyers.

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06-07-2011, 11:48 AM
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This is bad for the NBA, I'm assuming they are trying to get out of the league before it gets messy.

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06-07-2011, 11:49 AM
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Originally Posted by Quacker912 View Post
This is bad for the NBA, I'm assuming they are trying to get out of the league before it gets messy.
Yep. And this is on the heels of the Wizards getting bought and Leonsis basically saying that the NBA fiscal structure was a disaster compared to the NHL.

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06-07-2011, 12:03 PM
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Murphy7
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Quote:
Originally Posted by Jester View Post
You realize Snider doesn't actually own Comcast, right? They could theoretically sell their portion of the Flyers tomorrow and I doubt Snider could do anything about it. He has his personal share of the organization... he owns about 1/3 of the Flyers.
I'd have to look it up, but I thought he had a clause in the agreement that said nothing can happen to the Flyers without his approval as long as he was alive. Even so, it still means Comcast could sell as long as he was on board with it.

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06-07-2011, 12:20 PM
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Sixers have been on the market but the only takers they have had couldn't get the investors together.

This isn't as scary as finding out the Phils are one of 9 teams on a watch list for financial solvency.

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Old
06-07-2011, 12:23 PM
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SeanL44
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Quote:
Originally Posted by Jester View Post
You realize Snider doesn't actually own Comcast, right? They could theoretically sell their portion of the Flyers tomorrow and I doubt Snider could do anything about it. He has his personal share of the organization... he owns about 1/3 of the Flyers.
Snider is the chariman for Comcast, he basically has close to final say on anything Comcast does.


edit: sorry, misread. Hes the chairman for Comcast Spectacor.

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Old
06-07-2011, 12:24 PM
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Beef Invictus
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I saw this thread title and thought "this is likely a bad sign for the NBA." I'm glad I'm not alone

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Old
06-07-2011, 12:30 PM
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I don't even follow the NBA the slightest, and I'm pretty sure this speaks huge amounts about the state that league is in.

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