The new ownership group is headed by 46-year-old billionaire Joshua Harris, who has made his fortune as a leveraged buyout specialist. The sale, which was “unanimously approved” by the NBA’s Board of Governors, was reportedly made for $280 million.
“My partners and I are thrilled to have become owners of the Sixers,” said Harris. “It is an honor to be a part of this storied franchise – we have a lot of work to do but we have a rich history, a strong foundation and a bright future. My partners and I want to thank Ed Snider and the Comcast-Spectacor team for all their efforts to make this outcome possible. As we move forward, we want to build on the team’s momentum and be world class and cutting edge in everything we do.”
The new owners have named Adam Aron, a Philadelphia native and former chairman and CEO of Vail Resorts, CEO of the Sixers.
“Being named CEO of the Philadelphia 76ers is truly a dream come true. Having grown up in Abington, I have always been a fan of this team,” said Aron. “I’m excited about celebrating and building on the extraordinary heritage of the 76ers, the third winningest team in NBA history. We will work tirelessly to make Philadelphia sports fans proud.”
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