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League makes official what we already knew: 76ers have been sold

Oct 18, 2011, 9:13 AM EDT

Joshua Harris

We told you over the weekend that the NBA’s other owners had approved the sale of the Philadelphia 76ers to New York billionaire Joshua Harris and investors.

Now the league has made official what everyone already knew, sending out an announcement of the sale Tuesday morning.

“We are delighted that the NBA’s Board of Governors has approved Josh Harris and David Blitzer’s purchase of the 76ers,” said NBA Commissioner David Stern in a released statement. “Comcast-Spectacor, led by Ed Snider, has been an exceptional owner for the Sixers, continuing the team’s rich history and tradition. Josh and David bring vast business experience that will greatly benefit the team as it continues to grow both on and off the court.”

“My partners and I are thrilled to have become owners of the Sixers,” Harris said in a statement released by the team Tuesday morning. “It is an honor to become 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.”

Congratulations Mr. Harris on the purchase of your team that cannot play basketball right now. That must feel special.

Sixers’ fans will welcome the new owners — former owner Snider (through his company Comcast-Spectacor) was seen as a hockey fan who happened to own a basketball team. It was good for the building he owned (the Wells Fargo Center, where the Sixers will remain tenants) and the cable station, but it was not his passion.

Harris has Philly ties, he graduated from the Wharton School of Business at the University of Pennsylvania.

We’ll see what kind of owner Harris will be. He takes over a team that took some steps forward last season under Doug Collins and has some young talent, but also has questions about direction and how to build. And what to do with Andre Iguodala.

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