About a month ago, we told you that all indications were that a 76ers sale was imminent. And according to Bloomberg, it's getting even more imminent.
The Philadelphia 76ers likely will be sold to a group led by Joshua Harris, a director at Apollo Global Management LLC, in the next few business days, two people familiar with the negotiations said.
Harris will pay about $280 million, according to one of the people, who were granted anonymity because they weren’t authorized to discuss the sale publicly. Harris co-founded Apollo Management in 1990, and holds a bachelor’s degree from the University of Pennsylvania’s Wharton School of Business and a master’s degree from the Harvard Business School.
Apollo went public in March.
It will definitely be an interesting sale, especially because the league is currently locked out, claiming major losses and a system that is broken. So the price tag for the 76ers will certainly be something the union and others will have an eye on.
Forbes.com recently valued the 76ers at $330 million, good for No. 17 out of the NBA's 30 teams. The Sixers went 41-41 last season and were ushered out of the first round of the playoffs by eventual Eastern Conference champion, the Miami Heat.