Philadelphia 76ers will be sold. Agreement for Sixers sale now in place

So they're staying in Philly, but just getting a new owner?

[QUOTE=Maniak]So they're staying in Philly, but just getting a new owner?[/QUOTE]


Th were never leaving. :confusedshrug:

Hopefully this billionaire is somewhat of a mark Cuban or Atleast takes notes

LBO, very nice. I wonder where they sourced the debt from. Big mula!

[QUOTE=GOBB]Th were never leaving. :confusedshrug:

Hopefully this billionaire is somewhat of a mark Cuban or Atleast takes notes[/QUOTE]
Oh, I assumed as much.

[QUOTE=GOBB]Th were never leaving. :confusedshrug:

Hopefully this billionaire is somewhat of a mark Cuban or Atleast takes notes[/QUOTE]
They've talked about him being a lifelong Sixers fan. He'll at least show an interest in the team.

so, in 1996, the team went for $125 million and today sold for $280 million. there's something fishy about the way the owners are spending their money publicly. i thought philly was supposed to be one of the troubled teams. is my line of thinking way off? i've seen other things that make me wonder as well. even considering inflation, that's a huge margin. how are these franchises worth so much if they are supposedly losing a crap ton of money?

I'll chip in $16.25 and a couple of Snicker bars

[QUOTE=blacknapalm]so, in 1996, the team went for $125 million and today sold for $280 million. there's something fishy about the way the owners are spending their money publicly. i thought philly was supposed to be one of the troubled teams. is my line of thinking way off? i've seen other things that make me wonder as well. even considering inflation, that's a huge margin. how are these franchises worth so much if they are supposedly losing a crap ton of money?[/QUOTE]

Well Forbes had the team valued at $360 million. I guess that shows you what valued means. Apparently nothing. Something is only worth what someone is willing to pay for it.

[QUOTE=StateProperty]They've talked about him being a lifelong Sixers fan. He'll at least show an interest in the team.[/QUOTE]
Nice

[QUOTE]"This change in Philadelphia, I'm very aware of that group and ..." Shaq said. "I know they're going to pick it up with everything they can and get some new exciting players in there to bring it back to life. Owners like that and Mark Cuban and the guy who just purchased the Detroit Pistons, they're new-wave owners."[/QUOTE]

[url]http://www.philly.com/philly/blogs/deep-sixer/Magee-tweaking-Turners-shot.html#ixzz1S6cNiFgE[/url]

Richmond VA c'mon

People actually think the 76ers are moving?:oldlol: :oldlol:

the third most storied franchise in NBA history is going to move?

[QUOTE=PowerGlove]People actually think the 76ers are moving?:oldlol: :oldlol:

the third most storied franchise in NBA history is going to move?[/QUOTE]
Yeah, that was never even a rumor. The new owner went to college in Philly, his mom is from Philly, and he's only from New York so moving them cross country doesn't even make sense.

Plus, the old ownership kept 10% and keeping them in the same building was part of the deal.

They better stay in Philly. NY really does not need 3 teams at all!!

Damn that was quick.