Who Owns the Philadelphia 76ers
The Philadelphia 76ers are currently owned by Harris Blitzer Sports & Entertainment (HBSE), a sports and entertainment holding company. The majority controlling interest is held by Josh Harris and David Blitzer, who purchased the team in 2011 from Comcast Spectacor. Their ownership group also controls the New Jersey Devils of the NHL and the Prudential Center in Newark, New Jersey. HBSE operates the 76ers as a professional basketball franchise within the NBA's Eastern Conference Atlantic Division.
The current controlling ownership structure is built around a limited liability company that manages the franchise's business operations, player contracts, and venue agreements. The group's investment portfolio includes the 76ers, the Devils, and a portfolio of commercial real estate assets tied to their sports venues. Their combined net worth and investment capacity have been reported by Forbes as among the largest in the NBA ownership landscape.
Josh Harris and David Blitzer Ownership Profile
Josh Harris is the founder and managing partner of Harris Blitzer Sports & Entertainment and serves as the chairman of the 76ers. He is also the chairman and co-founder of the private investment firm Apollo Global Management, a major alternative asset manager. David Blitzer is a senior executive at Blackstone and serves as a managing partner in the ownership group. Together, they lead the strategic and financial direction of the franchise.
The ownership group completed the acquisition of the 76ers in 2011, with the purchase price reported at approximately 280 million dollars at the time. The transaction was structured through a new holding company that assumed the franchise's assets, including player contracts, arena leases, and broadcasting rights. The deal was reviewed by the NBA's Board of Governors before final approval.
Ownership Group Structure and Investments
Harris Blitzer Sports & Entertainment is the parent entity that holds the 76ers franchise. The group's portfolio includes the 76ers, the New Jersey Devils, and a controlling interest in the Prudential Center. The company manages the business operations, ticket sales, sponsorship deals, and community engagement for both franchises. Its investment strategy focuses on sports franchises, venue management, and related media and entertainment assets.
The 76ers' business operations are supported by a corporate structure that includes subsidiary companies for marketing, broadcasting, and venue services. The group has pursued capital raises and strategic partnerships to fund arena upgrades and team operations. Financial details of the franchise's revenue and valuation are disclosed in periodic filings and sports business reports.
Corporate and Financial Overview
The franchise's valuation has grown significantly since the 2011 acquisition, with Forbes and other sports business outlets tracking its worth as part of the NBA's overall franchise valuations. The ownership group has invested in training facilities, scouting infrastructure, and digital media platforms to expand the team's commercial reach. These investments are managed through the holding company's capital allocation process.
The 76ers' ownership structure includes a board of directors and executive team responsible for basketball operations, finance, and fan experience. The group's decisions on player acquisitions, coaching hires, and arena renovations are guided by its investment thesis and long-term growth strategy. The franchise remains a key asset within the broader portfolio of Harris Blitzer Sports & Entertainment.
Key Ownership Facts and References
The current majority owners of the Philadelphia 76ers are Josh Harris and David Blitzer through Harris Blitzer Sports & Entertainment. The franchise was acquired in 2011, and the ownership group has expanded its portfolio to include the New Jersey Devils and other sports and entertainment assets. The group's financial capacity and investment approach are regularly covered by major sports business outlets.
For detailed financial and ownership information, the Forbes profile of the 76ers