Derek Bodner of SB Nation Philly reports that the Comcast-Spectator's sale of the Philadelphia 76ers to investor Joshua Harris is expected to close early next week, with approval by the NBA board of governors in hand. Fagan reports that Harris is buying only the Sixers -- not the NHL's Philadelphia Flyers or the Wells Fargo Center, both also owned by Comcast -- for $280 million.
Harris has the odd circumstance of preparing to take over the Sixers in the middle of the NBA lockout. News of Harris' bid to buy the team broke last spring, and the deal was done in July, requiring official league review and approval by the other owners. The Atlanta Hawks' sale is next in line: a deal was announced last month, but there's been no indication NBA approval will come soon.
Kate Fagan of the Philadelphia Inquirer reports that Comcast bought the team for $130 million in 1996. Adjusting for inflation, Comcast earned a 57 percent return on that initial investment. However, the team has reportedly been one of the franchises losing money in recent years.