Philadelphia 76ers Reportedly Up For Sale, Deal Could Be Imminent

The Philadelphia 76ers were not publicly for sale this year, but on Tuesday, reports have surface that puts the team in the midst of negotiations to transfer ownership from the Comcast Spectator group that's owned the franchise since 1996.

Henry Abbott broke the news first at ESPN.com. According to Abbott, the prospective buyer is a group led by a man named Joshua Harris, a 46 year-old New York-based business man said to be worth around $1.5 billion. For now, the price of the sale is still unknown.

The 76ers have belonged to Comcast Spectator, the same group that owns the Flyers and the arena that houses both teams, the Wells Fargo Center, for the past 15 years. Ed Snider has been the face of that ownership group throughout that span, and nothing suggested any of that would be changing. Until today, that is.

Now, sources say a deal is "imminent" and the team could be transferred to Harris, while Comcast Spectator would retain control over the Wells Fargo Center and the Flyers. Joining the 46 year-old Harris would be, among others, Jason Levien, a former NBA agent and a one-time executive with the Sacramento Kings. For now though, everything remains hypothetical.

But since it's clear that the negotiations are in the latter stages at this point, it certainly seems like the 76ers could change hands any minute now. As for what that means to the team itself? For one thing, that Monta Ellis-Andre Iguodala trade might be put on hold 'till all this gets figured out.

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