The deal does not include the NHL's Flyers, also owned by Comcast-Spectacor, or the Wells Fargo Center, which houses both professional teams. Under the new ownership group, the Sixers will continue playing there.
According to a news release issued by Comcast-Spectacor, the Sixers "will remain a long-term tenant of the Wells Fargo Center and will have a long-term cable broadcast agreement for its games with Comcast SportsNet Philadelphia." The TV deal runs through 2029.
Harris, 46, is cofounder of Apollo Global Management, which specializes in leveraged buyout transactions.
A graduate of the Wharton School of the University of Pennsylvania, Harris is worth an estimated $1.5 billion. He is joined in the investment group by David Blitzer of the Blackstone Group, Art Wrubel of the hedge fund Wesley Capital, and former NBA agent and Sacramento Kings executive Jason Levien.
It remains unclear what role, if any, Levien will play within the Sixers' front office, which is currently run by team president Rod Thorn.
The new ownership group has met with Thorn on several occasions. Levien worked as assistant general manager for the Kings from 2008 to '10, and there is some indication that he may play a role in the team's front office.
"They have questions about how we do things, why we do things, what we think of our personnel, what we think we need," Thorn said last month.
Comcast-Spectacor's news release stressed that each member of the ownership group is making a personal investment and that the purchase is not affiliated with Apollo, Blackstone, or Wesley.
