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76ers Co-Owners Reportedly Looking to Sell Franchise: Latest Comments, Reaction
The Philadelphia 76ers have been mired in turmoil all season, and the team's ownership group, led by billionaires Josh Harris and David Blitzer, reportedly has interest in eventually selling the franchise.
According to Forbes' Mitch Lawrence, Harris and Blitzer—who own the NHL's New Jersey Devils and are heavily invested in English Premier League side Crystal Palace—have their sights set on selling the Sixers and bringing an NFL expansion team to London.
"They're more interested in getting the NFL in London than they are in the NBA," a source said, per Lawrence. "Their No. 1 goal is to get the NFL team in London. They want to flip the Sixers anyway."
However, Harris told reporters in October he wasn't interested in selling his stake in the Sixers, according to the Philadelphia Inquirer's Keith Pompey: "I expect to be, and the ownership group expects to be, happily involved with the Philadelphia 76ers for many, many years to come."
While no time frame was provided regarding a potential sale of the Sixers, Harris and Blitzer's historic operating procedures lend credence to the report.
When Harris and Blitzer purchased the Devils in 2013, NJ Advance Media's Steve Politi noted the duo has made a living investing in sputtering businesses, building them back up and then selling them for a profit.
The two purchased the Sixers from Comcast-Spectacor in 2011 for $270 million, per Forbes, and the value of the franchise has only skyrocketed since.
At present, the Sixers—who own the NBA's worst record—are valued at approximately $700 million, according to Forbes.
Based on the influx of money the NBA has seen over the past few years, thanks to new local and national television deals, monetary arrows should continue pointing up for franchises across the Association.
