Harris, the co-founder of Apollo Global Management, is fronting a consortium that has agreed to buy the franchise. The NBA Board of Governors still has to approve the takeover, which does not include Wells Fargo Center, the home of the team, or the Philadelphia Flyers National Hockey League franchise, which is also owned by Comcast-Spectator.
It is unclear whether the current lockout in the NBA will delay the approval process, but under the terms of the deal, the 76ers will remain a long-term tenant of the Wells Fargo Center and will have a long-term cable broadcast agreement for its games with Comcast SportsNet Philadelphia.
"We are honoured to have the opportunity to be affiliated with this storied franchise," said Harris. "As a basketball fan who attended college in Philadelphia, and with family roots here, I have always felt a strong connection to this City and the 76ers. We look forward to helping the 76ers organisation build on this past season's accomplishments in the years ahead. The ownership group also looks forward to a long and mutually beneficial relationship with Comcast-Spectacor."
The new ownership group also includes David Blitzer, Art Wrubel and Jason Levien. Blitzer, a senior managing director of The Blackstone Group, said: "We are excited to become associated with this iconic team and to have the chance to serve the great City of Philadelphia and its loyal basketball fans."
The 76ers reached the end-of-season play-offs for the third time in four years last season, but the team crashed out in the Eastern Conference first round with a 4-1 series loss to the Miami Heat. Miami went on to reach the NBA title final, but lost 4-2 to the Dallas Mavericks in the championship series.
