08/05/2006

The Philadelphia Inquirer

by: Joe Juliano

The 76ers have held negotiations to sell the team with at least two interested parties, sources have told The Inquirer...

...Ed Snider, chairman of Comcast-Spectacor, confirmed last night that the Sixers have been receiving inquiries from groups interested in purchasing the team and said it has hired a New York sports investment firm to explore alternatives.

"We have been approached by multiple parties interested in purchasing the Philadelphia 76ers, particularly in the wake of recent press speculation," Snider said in a statement last night. "While this is not the first time we have received such inquiries, we have decided to engage the services of Galatioto Sports Partners, an industry-leading sports-investment firm, to help us evaluate our strategic alternatives, including a sale or a new partnership. We emphasize that no decision has been made to sell the 76ers."