Sixers Sell Team To Penn Grad

by Dom

For the first time since 1996, a Philadelphia franchise has changed ownership. Today, the 76ers finalized a deal which will transfer ownership of the team to Wharton graduate Joshua Harris and his team, which includes fellow Wharton grads David Blitzer and Art Wrubel for $280 million. Harris and his team will own 90% of the franchise and Ed Snider will hold the remaining 10%.

This is a great move for not only the team, but the City of Philadelphia. Ed Snider knows squat about building a successful basketball team. Josh Harris is not only a very smart guy, but also a big basketball fan. You could dub him the second coming of Mark Cuban. He’s a very energetic individual.

I’m excited to watch what could happen with the Sixers under the new ownership. Maybe, just maybe, they’ll be less hesitant to make necessary personnel moves.

(H/T SB Nation Philly)