Jun 20, 2011, 1:14 PM EDT
Comcast-Spectacor is still in serious discussions to sell the team to a group of investors led by New York billionaire Joshua Harris. Comcast-Spectacor owner Ed Snider is expected to sell 90 percent of the Sixers to Harris’ group for an estimated $280 million.
The deal, which has many obstacles because of the magnitude of the transaction, is creeping closer toward completion and is expected to be completed in the near future.
If that number seems low at first glance — after seeing teams sell for upwards of $400 million recently — it’s actually not. It’s more in line with reality. Forbes estimated the worth of the Sixers at $330 million. (Yes, there are issues with those estimates, but it’s the one we’ve got to work with.) At that value, 90 percent of the team would be worth $297 million. So, $280 million seems a fair price.
What will be interesting to see is what changes in franchise direction the new owners want to make, if any. The Sixers are taking steps back toward respectability under Doug Collins, but there is a long way to go.
- Report: NBA considering week-long break for All-Star Game next year 0
- Report: Knicks made (ridiculous) offer to trade for Kevin Love 31
- Report: Lakers finally offer coaching position to Byron Scott, deal expected soon 24
- Report: Cavaliers leading Kevin Love-trade sweepstakes 41
- Chris Paul on boycott if Sterling is still owner: “That’s something me and Doc are both talking about” 31
- Players union approves of Thunder’s Josh Huestis arrangement 16
- Cavaliers officially sign Andrew Wiggins, putting 30-day hold on him being traded 58
- Lakers deny rumor they are waiting around for Doc Rivers to be coach 61