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: Cavaliers, Clippers discussing Jamal Crawford for Brendan Haywood trade 6
- Reports: David West agrees to veteran minimum deal to play for Spurs 35
- Report: Marc Gasol, Grizzlies reach deal on five-year, $110 million contract 7
- Manu Ginobili tweets he’ll play next season 6
- Who is left: 15 best free agents still on the board 12
- Report: Detroit Pistons sign restricted free agent Reggie Jackson for five-years, $80 million 38
- Report: Lakers near deal to sign Brandon Bass, may trade Nick Young 36
- Spurs reset franchise for post Tim Duncan life in one impressive week 19