Sixers team is for sale
From August 1 Philadelphia Inquirer: As many as eight potential buyers - including at least three with local ties - have come forward seeking to buy the Philadelphia 76ers, according to numerous sources.
One NBA source said this week that the league was increasingly confident the team would be sold for up to $450 million before the end of the year. Such a price would be an NBA record, topping the $401 million paid by Robert Sarver in 2004 to buy the Phoenix Suns, the WNBA's Mercury, and the Arena Football League Arizona Rattlers.
A spokesman for Comcast-Spectacor referred inquiries about the sale to the statement issued by Comcast chairman Ed Snider in early August that acknowledged only that the team had hired a sports investment firm, Galatioto Sports Partners, to handle inquiries about a potential sale and that no decision had been made to sell.
A source said one of the local groups includes the managing directors of ETF Venture Funds, a King of Prussia venture capital fund that specializes in technology and health-care companies. According to the source, the two directors, Ian Berg and Wayne Kimmel, have partnered with Andrew Barroway, the managing partner of Schiffrin & Barroway, a Radnor law firm specializing in class-action lawsuits.
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