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Sale of 76ers approved

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As I mentioned over at SBN Philly, the sale of the Sixers has been unanimously approved by NBA Board of Governors, and it should be officially announced either Tuesday or Wednesday of next week.

The ownership group, for those not paying attention over the last 3+months:

  • Joshua Harris of Apollo Management Group. Worth an estimated 1.5 billion, father of 5. He is neither the preacher nor the focus of the movie 'We Live In Public', for those curious.
  • Art Wrubel of Wesley Capital
  • David Blitzer of the Blackstone Group
  • Jason Levien, former player agent and executive with the Sacramento Kings
These are all private investments. None of the aforementioned entities have a stake in the Sixers. This is for 100% of the team, although Comcast-Spectacor will still own the Flyers and the stadium, making the Sixers long term tenants of the Wells Fargo Center.

The Sixers have now had the following owners in their history:
  • Danny Biasone (Founded Nationals, 1946 to 1963)
  • Ike Richman and Irv Kosloff (bought from Biasone, moved to Philadelphia, 1963 to 1976)
  • Fitz Dixon (Bought from Kosloff, from 1976 to 1981)
  • Harold Katz (Bought from Dixon, from 1981 to 1996)
  • Comcast-Spectacor (Bought from Katz, from 1996 to 2011)
  • Joshua Harris led group (Bought from Comcast-Spectacor, from 2011+)