Tuesday is a big day for NBA basketball fans in the city of Philadelphia. A press conference at the Palestra by the Sixers & introduced their new ownership led by multibillionaire Joshua Harris, who went to the Wharton School of Business at the University of Pennsylvania. Last week, the NBA Board of Governors voted unanimously to approve the sale from Comcast-Spectacor to Harris’ group. Harris is one of three co-founders of Apollo Global Management, a private equity group.
“My partners and I are thrilled to have become owners of the Sixers,” Harris said in a statement released by the team Tuesday morning. “It is an honor to become part of this storied franchise. We have a lot of work to do, but we have a rich history, a strong foundation and a bright future.”
The group includes numerous investors, including Will and Jada Pinkett Smith. “West Philadelphia born and raised,” Will was born in Wynnefield and attended Overbrook High School.
Another Philly native, Adam Aron, a graduate of Abington High School, Harvard College and Harvard Business School, has been named the franchise’s CEO. Aron served as the chairman and chief executive officer of Vail Resorts until 2006 before forming and holding the same title for the consultancy, World Leisure Partners, Inc.
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