NBA’s Philadelphia 76ers in Talks About Selling Franchise, President Says

The Philadelphia 76ers are exploring a sale, according to the president of the holding company that owns and operates the National Basketball Association team.

“I can confirm that we are in discussions about the future of the team, but these discussions are confidential and we cannot talk about the details,” Comcast-Spectacor President Peter Luukko said in a statement.

Luukko’s announcement followed an ESPN report that Joshua Harris, a director at Apollo Global Management LLC, a private- equity firm that went public in March, is in talks to buy the team. The Walt Disney Co. unit cited people that it didn’t identify.

Luukko’s statement didn’t address a specific buyer.

Harris would buy the team from Ed Snider, who controls it through Comcast-Spectacor, which also owns hockey’s Philadelphia Flyers and the Wells Fargo Center, where both clubs play, according to ESPN.

The company would continue to own and operate the arena, with the 76ers as a tenant, ESPN said.

Harris didn’t immediately return a telephone message and an e-mail seeking comment.

The Harris-led group also includes David Blitzer, who in 2002 moved to London from New York to create the European office of the Blackstone Group LP (BX), the biggest private-equity firm, ESPN said.

To contact the reporter on this story: Scott Soshnick in New York at ssoshnick@bloomberg.net

To contact the editor responsible for this story: Michael Sillup at msillup@bloomberg.net

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