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

Who cares?
Contract them

Why do people here think just because a team is being sold, it automatically means that they'll move? Abandoning the 4th largest market in the country and one of the NBA's flagship cities...doesn't at all make sense.

All this did for Comcast is essentially free up some extra cash to finish their purchase of NBC Universal.

The 76ers sale was agreed to a long while back, but the actual final transactions to make it official aren't done yet, but should be soon.

Read [url]http://www.insidehoops.com/blog/?p=8452[/url]

Last week, the NBA Board of Governors approved the sale of the team by Comcast-Spectacor to a group led by billionaire Joshua Harris, co-founder of Apollo Global Management. Harris grew up in the Philadelphia area and graduated from the Wharton School of Business. Today at the Palestra, the group will be introduced to the media at an 11:30 a.m. news conference.

The sale was completed in July, but needed league approval. Forbes magazine put the team's value at $330 million. The new owners paid about $280 million.

-- Reported by the Philadelphia Daily News

Sale is complete

FULL INFO HERE: [url]http://www.insidehoops.com/blog/?p=8463[/url]

[QUOTE=chocolatethunder]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]

only reason it sold so low is because they basically aren't getting the TV money with it.