The Sixers will start their next season under new ownership. Comcast announced last night it has sold the NBA team to Apollo Global Management.
Led by Wharton grad Joshua Harris, Apollo is a New York-based private equity group. The deal includes only the ’76ers, not the Flyers or Wells Fargo Center, which Comcast also owns.
The Philadelphia Business Journal reports the team is worth around $330 million. Harris is worth about $1.5 billion.
Terms of the agreement haven’t been disclosed, and are pending NBA approval.