Jun 20, 2011, 1:14 PM EST
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.
- Derek Fisher questions ‘character and integrity’ of players after Knicks lose to Kings by 38 points 9
- Five Things We Learned in NBA Tuesday: The Hawks clinched playoff spot in front of Josh Smith 2
- Nuggets need to decide direction, then hire coach 18
- Report: Russell Westbrook ‘likely’ to return to Thunder lineup Wednesday, will wear protective mask 13
- Nuggets have fired head coach Brian Shaw 29
- Five Things We Learned in NBA Monday: Goran Dragic got his revenge in concentrated form 5
- League suspends James Harden one game for kick to LeBron James’ groin 23
- PBT’s weekly NBA Power Rankings: Hawks seem to be out of malaise. Maybe. 11