<div class="quote_poster">Quote:</div><div class="quote_post">Comcast Spectacor, owner of the Philadelphia 76ers , are attempting to sell the club, according to a well-informed source. Many employees believe that a sale is on is imminent</div> Source I doubt this actually has any substance to it..but if it does..what the ****?
If they sold the franchise it would probably be better for everyone maybe then we could get someone who actually cares about basketball in the front office.
I wouldn't mind if they sold this franchise at all. Maybe they can sell it to someone that cares about NBA basketball, and cares about building a good team. I hope they sell it to Charles Barkley
But then...what would Philly have? Plus us local fans won't be able to see all their games anymore unless you have league pass.
<div class="quote_poster">Quoting Smitty:</div><div class="quote_post">But then...what would Philly have? Plus us local fans won't be able to see all their games anymore unless you have league pass. </div> I'm pretty sure you won't have to worry about not being able to watch the games. If they can't show games on TV, then they can't make any money.
<div class="quote_poster">Quoting Ming637:</div><div class="quote_post">That's pretty suprising to hear, why would he want to sell the club though?</div> Because when we drop 50 games this year the value will fall through the floor. Also there will be a combine total of 4 people that will go to the games this year, meaning our revenues will be at an all time low. Comcast figures they would sell the team when they can actually get money for the patetic bunch we call the Sixers. <div class="quote_poster">Quoting Brian:</div><div class="quote_post">Pat Croce anyone?</div> I'd like having Croce back but he's into the whole pirate thing (opened up a place in Florida about pirates). Plus he left the Sixers on bad terms. What about me? I'll open things up at $5...
<div class="quote_poster">Quoting Smitty:</div><div class="quote_post">But then...what would Philly have? Plus us local fans won't be able to see all their games anymore unless you have league pass. </div> This doesn't mean the team would move. The Cavaliers where sold and didn't move.
<div class="quote_poster">Quote:</div><div class="quote_post">Are the 76ers for sale? The president of Comcast Spectacor, the company that owns the team as well as the Flyers and a number of other entities, yesterday denied a newspaper report that the Sixers are on the market. Peter Luukko responded to an account in yesterday's Boston Globe, which quoted a "usually well-informed NBA source" as saying the Sixers were on the block. "We receive expressions of interest from time to time," Luukko said through a spokesman. "No one has made us an offer and we're not actively trying to sell the team." The Globe report also cited another source who "indicated many of the current [Sixers] employees believe a sale is on the way."</div> Source
Yeah, prolly wouldn't have to worry about that. Besides..looks like they aren't being shopped..although I want Ed Snider gone badly.
Luukko calls Sixers sale price report 'totally off base' <div class="quote_poster">Quote:</div><div class="quote_post">The Phoenix Suns sold for $401 million. The Seattle SuperSonics/Seattle Storm recently went for $350 million. But, despite a WIP radio report, there is no price tag on the 76ers. The radio station was reporting yesterday that Comcast-Spectacor, the parent company of the Sixers, Flyers, Phantoms, the Wachovia Center, the Wachovia Spectrum and several other entities, had established an asking price of $500 million. "That's totally, totally off base," Peter Luukko, president and chief operating officer of Comcast-Spectacor, told the Daily News this afternoon. Luukko has said all along that even though the company receives "expressions of interest from time to time, no one has made us an offer and we're not actively selling the team." Luukko confirmed that the company has hired a Wall Street firm to review offers, should any be forthcoming. "We're not talking to anybody, we're not dealing with anybody," Luukko said. "We have advisers. We're not setting prices." Speculation that the Sixers could be for sale has been swirling for more than 2 months, most recently in last Sunday's Boston Globe, which attributed its information to "a usually well-informed source." It is fair to assume that, with all of the speculation, Comcast-Spectacor has fielded several preliminary inquiries. </div> Source
<div class="quote_poster">Quote:</div><div class="quote_post">The 76ers have held negotiations to sell the team with at least two interested parties, sources have told The Inquirer. One of the parties involved is the Kushner Companies, a multibillion-dollar real-estate enterprise based in Florham Park, N.J., a source with close ties to the local business community said. While talks have cooled this week, the source said, the company has not closed the door on resuming negotiations at a later time. Ed Snider, chairman of Comcast-Spectacor, confirmed last night that the Sixers have been receiving inquiries from groups interested in purchasing the team and said it has hired a New York sports investment firm to explore alternatives. "We have been approached by multiple parties interested in purchasing the Philadelphia 76ers, particularly in the wake of recent press speculation," Snider said in a statement last night. "While this is not the first time we have received such inquiries, we have decided to engage the services of Galatioto Sports Partners, an industry-leading sports-investment firm, to help us evaluate our strategic alternatives, including a sale or a new partnership. We emphasize that no decision has been made to sell the 76ers." As managing director of Lehman Brothers Sports Advisory and Finance Group, Sal Galatioto has advised and arranged the biggest sales in the history of the NFL and the NBA, involving the Washington Redskins and Phoenix Suns. Contacted at his office in New York on Thursday, Galatioto declined to comment on any involvement he had with Comcast-Spectacor. A Kushner company spokesman, Bob Sommer, said yesterday that the Kushner Companies is not interested in the team "at this time." Sommer would not comment when asked if there was prior interest in buying the team. A sports-industry source said Comcast-Spectacor put out feelers at least two months ago to gauge how much interest existed if the team was put up for sale. It is believed that the asking price is in excess of the record $401 million paid by banker and real-estate executive Robert Sarver and an investment group for the Suns on June 30, 2004. According to Forbes magazine's annual NBA team evaluations published in December, the Sixers are worth $351 million. It is not the first time that the Kushner Companies has been interested in buying an NBA franchise. Its former head, Charles Kushner, had joined then-U.S. Sen. Jon Corzine (D., N.J.) in an unsuccessful bid for the New Jersey Nets in August 2004, losing out to Brooklyn real-estate developer Bruce Ratner, who bought the team for a reported $300 million. In 2005, however, Kushner pleaded guilty to 18 counts of tax evasion, witness tampering and illegal campaign donations. He is currently living in a halfway house in Newark, N.J., and is expected to be released later this month. Kushner is not with the Kushner Companies, Sommer said.</div> Source
Man, this has been the hottest rumor all summer! I feel as if my team is in trouble when the only rumors I am hearing are about selling the team.
