"He has always had a soft spot in his heart for Philadelphia," the source said.
Financial terms were not disclosed, but sources have said the deal is for about $280 million. The Sixers were valued at $330 million, 17th in the NBA, earlier this year by Forbes.
According to a statement announcing the deal, "the team 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 sale does not involve the arena or the Flyers.
A source close to the negotiations said the deal is for 100 percent of the organization, contrary to previous reports that Comcast-Spectacor chairman Ed Snider would retain a financial stake.
"We are honored to have the opportunity to be affiliated with the storied franchise," Harris, 46, said in a statement. "As a basketball fan who attended college in Philadelphia, and with family roots here, I have always felt a strong connection to this city and the 76ers. We look forward to helping the 76ers organization build on this past season's accomplishments in the years ahead. The ownership group also looks forward to a long and mutually beneficial relationship with Comcast-Spectacor."
A spokesman for Harris said that he would have no further comment until the deal becomes official.
An NBA spokesman said there was no timetable for when the sale could be approved. The league will thoroughly look at the prospective owners and their financing. Typically, though, the timetable has been about 2 to 3 months.
"While today we have reached an agreement to sell the team, the deal still must have the approval of the NBA's Board of Governors," Comcast-Spectacor spokesman Ike Richman said. "We will refrain from making any comments until the sale is approved."
