Tuesday, June 07, 2011

Sixers could be sold

The Philadelphia 76ers are headed for new ownership.

Comcast-Spectacor president Peter Luukko issued a statement that confirmed the company is in discussions to sell the team but declined to discuss any details.

A person familiar with the process said an auction was held during the past several months. The person confirmed an ESPN report that Comcast Corp., which has a controlling interest in the team, is closing in on a deal with financiers Joshua Harris and David Blitzer.

The deal, which has yet to be finalized and still needs NBA approval, would only be for the team, the person said. Comcast Spectacor will retain ownership of the Wells Fargo Center, the arena where the team plays, and the NHL’s Philadelphia Flyers.

In addition, Comcast’s regional sports network in Philadelphia will continue to own the Sixers’ media rights.

No comments: