Forbes says Sixers owners looking to flip team
Forbes Magazine says a source tells them that Sixers ownership is looking to own NFL team and flip the Sixers.
If the happenings of the 76ers on the court aren't very interesting, the off-the-court activities certainly are.
According to Forbes Magazine, owners Josh Harris and David Blitzer are looking to own the first NFL team in London and they will flip the Sixers to do that, a source told the magazine.
Harris and Blitzer recently invested in English soccer team Crystal Palace, based in London, to "get to know the market," according to the source for the magazine.
At training camp back in September at Stockton University, I asked Harris if he had plans to sell the team, as rumors swirled that he was looking into that. He insisted that the ownership group was committed to the team moving forward and that the group would be owners for many, many years.
Harris and his group purchased the Sixers in the summer of 2011 for close to $285 million. With a new television deal set to kick in in 2016, the organization could be worth almost three times that amount.
The source told Forbes: "They're more interested in getting the NFL in London than they are in the NBA. Their No. 1 goal is to get the NFL team in London. They want to flip the Sixers anyway."
Earlier this week, the team brought in longtime NBA executive Jerry Colangelo to help oversee the rebuild that started when general manager Sam Hinkie took over the club three seasons ago. Apparently, the move was perpetuated by the NBA, as league executives weren't happy with the product the Sixers have put on the floor in two-plus seasons, which have produced a 38-148 record.