New 76ers owners to be introduced Tuesday

Posted: October 18, 2011

The 76ers will introduce their new ownership group during a news conference on Tuesday at the Palestra, an NBA source confirmed.

The Sixers issued a release for a "major announcement" late on Monday, but the release did not specify the nature of the announcement.

At the end of last week, the NBA approved Comcast-Spectacor's sale of the Sixers to a group of investors led by New York billionaire Joshua Harris; at that time, the news conference was tentatively scheduled for Tuesday.

Tuesday's news conference will be the first time the new ownership group - which includes Harris, David Blitzer, Art Wrubel, and Jason Levien - will speak publicly about their $280 million purchase of the Sixers.

The news conference is scheduled to commence at 11:30 a.m.

The deal is for 100 percent of the franchise and does not include the NHL's Flyers, also owned by Comcast-Spectacor, or the Wells Fargo Center, which houses both professional franchises.

The Sixers will become a tenant inside the Wells Fargo Center once the NBA ends the ongoing labor dispute, which has already cost the league the first two weeks of the regular season.

Harris, 46, made his fortune in private equity with the firm Apollo Management.


Contact staff write Kate Fagan at kfagan@phillynews.com or @deepsixer3 on Twitter. Read her blog, "Deep Sixer," at www.philly.com/deepsixer.

 

comments powered by Disqus
|
|
|
|
|