UPDATE JULY 13, 6:23 pm:Over at CSNPhilly.com, Dei Lynam has confirmed that a deal has been reached. She also talks about the next steps in the process.
Now the deal must be approved by the league’s board of governors. The NBA needs to approve the sale and they will be thorough in their investigation. It is difficult to say exactly how long that will take but according to Adam Silver, the NBA’s deputy commissioner, the process can be lengthy.
“It’s difficult to say how long the process would take before we see what the actual deal is but the process usually takes about two months,” he explained in an e-mail. “But it could be longer depending on how many background checks need to be conducted, the type of financing the buyers are using, etc. Approval does not have to be done in person but a group of owners would need to interview the buyers at some point before the board votes.”
July 12, 4:40 pm: We’ve been telling you it was coming for a while, not it looks like sale of the Philadelphia 76ers will come to pass in the next couple days.
Comcast-Spectacor has a deal in place to sell the Philadelphia 76ers to an investor group led by Joshua Harris of Apollo Global Management, LLC, CBSSports.com has learned….
David Blitzer of The Blackstone Group will join Harris as lead partner, according to sources familiar with the deal. Former player agent and Sacramento Kings executive Jason Levien also is part of the proposed ownership group, sources said. Apollo, which describes itself on its web site as specializing in “contrarian” investments and “distressed” assets, and Blackstone are not involved in the transaction.
While the price tag is not known for sure, Bloomberg suggested recently it would be about $280 million. Ed Snider has owned the Sixers, NHL’s Flyers (his real passion) and the Wells Fargo Center where they both play. This sale is for the Sixers only, not the building or any part of the Flyers.
Sixers fans should welcome the sale — Snider was a hockey guy who happened to own the NBA team. The new ownership group should bring a different level of passion to the table.
Lonzo Ball bypasses open layup for no-look backward bounce pass, leaves Luke Walton staring into abyss (video)
Lonzo Ball missed a layup early last night. That might have made him overthink later, when he was ahead of the pack on another fastbreak. Instead of shooting the open layup, Ball bounced the ball behind him without looking, leading to a turnover and open Heat 3-pointer.
On the bright side for the Lakers, they still beat Miami.
On the bright side for us, we got this great Luke Walton reaction GIF:
LeBron James says he was referring to only arena, not consideration of signing with Knicks
LeBron James said in reference to his "here or the Garden" comment that no other venue could have held this final duel between LeBron and Wade other than those two venues. (Not that he was thinking of signing with the #Knicks)
This was always the most likely explanation. The arenas in Los Angeles in New York are the NBA’s biggest stages, and LeBron has repeatedly stated his affection for Madison Square Garden. He didn’t have to think through all the implications to say those were the only appropriate locations.
Ultimately, I believe the given explanation that this was just about the arena’s allure and nothing more. An offhand remark needn’t completely follow the logic that either LeBron or Wade must play for the Knicks for them to meet at Madison Square Garden. But I’m not completely sold this wasn’t a passive-aggressive dig at the Knicks.
Kings player after beating Bulls: ‘Uh-oh, another 2 1/2-hour practice for them tomorrow’
Including when Wade thanked LeBron for seeing that their last game was played at Staples Center, one of the legendary venues of the league. But it was LeBron’s response that turned heads:
“It was either here or The Garden. That’s it.”
Did the Knicks actually have a shot at LeBron last summer?
It doesn’t seem that way, considering LeBron made his decision to go to Los Angeles within 24 hours of the official start of free agency. There was no meeting with the Knicks, no serious contact in any way.
What LeBron was referring to (I think) was having their final game in one of the two brightest spotlights, one of the two most legendary venues in the NBA. Madison Square Garden and Staples Center have a vibe before Knicks and Lakers games that just doesn’t exist anywhere else — even when their teams are bad the venues are special and guys raise their games. It’s a combination of the markets, the big fan bases, and the history of the franchises, and the buildings (Shaq and Kobe basically built Staples Center). Much like a baseball game at Yankee Stadium/Fenway Park/Wrigley Field, there’s just something special about it that’s hard to quantify. It’s just different there.
That’s why the final game for LeBron and Wade had to be in Los Angeles or New York.
But Knicks fans, go ahead and dream of what might have been.