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Sources: Sixers sale close to being finalized

The immediate future of the NBA, now in Day 13 of a lockout, is unknown. The future of the 76ers? That may have become clearer yesterday as it appears a group headed by Joshua Harris is close to finalizing a deal with Comcast-Spectacor to take over the team. A league source said the completion of the sale was awaiting signatures of the parties involved, while another source confirmed the deal is "very close" to being finalized.

Talks between New York billionaire Joshua Harris, left, and Comcast-Spectacor chairman Ed Snider appear to be in their final stages.
Talks between New York billionaire Joshua Harris, left, and Comcast-Spectacor chairman Ed Snider appear to be in their final stages.Read more

The immediate future of the NBA, now in Day 13 of a lockout, is unknown.

The future of the 76ers? That may have become clearer yesterday as it appears a group headed by Joshua Harris is close to finalizing a deal with Comcast-Spectacor to take over the team. A league source said the completion of the sale was awaiting signatures of the parties involved, while another source confirmed the deal is "very close" to being finalized.

Harris, a leveraged buyout specialist, and his group are reportedly purchasing the team for $280 million from chairman Ed Snider and Comcast-Spectacor. Snider will retain a 10 percent financial stake, but will not have any management responsibilities. Following an agreement, the sale will have to be approved by the NBA Board of Governors. Approval would not be hindered by the lockout.

Among the group joining Harris is David Blitzer of the Blackstone Group, and Jason Levien, a former sports agent and front-office employee of the Sacramento Kings.

Blitzer, a senior managing director and co-chairman in the private equity group, is a magna cum laude graduate from the Wharton School at Penn. Harris is a graduate of the Wharton School of Business and has a master's degree from the Harvard Business School.

As for the basketball side of this deal, Levien could be the wild card. He negotiated huge NBA contracts for the likes of Luol Deng with the Chicago Bulls, Kevin Martin, then with the Sacramento Kings, and Udonis Haslem with the Miami Heat.

Levien was named the Kings' general counsel and assistant general manager in 2008 and was promoted to vice president 2 years later. He left the team in July of last year.

He appears to be the basketball mind of the group, and could become the main voice in personnel moves concerning the team. What that could mean for current president Rod Thorn and general manager Ed Stefanski remains to be seen.

Harris, 46, the co-founder of Apollo Management Group, was recently estimated by Forbes to have a net worth of $1.2 billion.

Snider has controlled the Sixers since 1996. Forbes has valued the team at $330 million, 17th highest in the NBA.

For more Sixers coverage, read the

Daily News' Sixers blog, Sixerville, at

www.philly.com/Sixerville.

Follow him on Twitter at

http://twitter.com/BobCooney76.

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