John Price
Bet
- Sep 19, 2008
- 374,011
- 24,905
There’s a twist! One I didn’t expect. Don’t get how the NFL allowed this to happen.
The new owner confirms the racist name won’t be brought back.
I'm really impressed by Harris so far. He's been a successful owner of 2 sports teams so far (Sixers as much as I hate to say it as a Sixers hater, and Devils)
A few clapbacks over the Sixers not being a winning org, but they've made the playoffs 5 straight times and Harris took them from an afterthought to relevant and increased the valuation greatly.
Why the Commanders' $6 billion bidding war was one Josh Harris had to win
Josh Harris has built a multibillion-dollar empire buying distressed assets. But his high-stakes bet on the Washington Commanders is his biggest yet. And it's one he knows he can't lose.www.espn.com
The Sixers were something of a distressed asset at the time as well, Blitzer says, losing approximately $25 million a year with a mediocre roster and a frustrated local fan base that routinely prioritized the Philadelphia Eagles, Phillies and Flyers in terms of attendance.
Harris and Blitzer studied the financials, taking more than six months to work through and close the deal. They badly wanted the team. But they'd made their careers -- and their fortunes -- by making the right investments, at the right time, for the right price.
The more they studied the NBA and the sports world in general, the more untapped value they saw.
And so in early July 2011, Harris and Blitzer put pen to paper. It is one of the great sports business success stories of the modern era -- from a purchase price of $280 million to a $3.15 billion valuation in 2023.
I'm really impressed by Harris so far. He's been a successful owner of 2 sports teams so far (Sixers as much as I hate to say it as a Sixers hater, and Devils)
A few clapbacks over the Sixers not being a winning org, but they've made the playoffs 5 straight times and Harris took them from an afterthought to relevant and increased the valuation greatly.
Why the Commanders' $6 billion bidding war was one Josh Harris had to win
Josh Harris has built a multibillion-dollar empire buying distressed assets. But his high-stakes bet on the Washington Commanders is his biggest yet. And it's one he knows he can't lose.www.espn.com
The Sixers were something of a distressed asset at the time as well, Blitzer says, losing approximately $25 million a year with a mediocre roster and a frustrated local fan base that routinely prioritized the Philadelphia Eagles, Phillies and Flyers in terms of attendance.
Harris and Blitzer studied the financials, taking more than six months to work through and close the deal. They badly wanted the team. But they'd made their careers -- and their fortunes -- by making the right investments, at the right time, for the right price.
The more they studied the NBA and the sports world in general, the more untapped value they saw.
And so in early July 2011, Harris and Blitzer put pen to paper. It is one of the great sports business success stories of the modern era -- from a purchase price of $280 million to a $3.15 billion valuation in 2023.