Re: Sale of 76ers expected to conclude next week
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