With the 5pm deadline set by David Stern for the players to accept the owners latest proposal drawing ever closer, the possibility of the entire NBA season being lost is looking more and more likely. According to Kate Fagan, that’s an outcome the new Sixers ownership wouldn’t be totally unhappy with.â†µ
76ers fans should know where new owners stand: they’ve aligned themselves w/ other hardline owners willing to play “hardball” for best deal.â†µ
76ers ownership part of ownership group willing to miss season for most favorable dealâ†µ
I suppose this shouldn’t come as a huge surprise. Josh Harris made his fortune investing in undervalued or distressed assets. You can be sure he didn’t buy an NBA team to lose money or because he thought the league would agree to some unworkable deal with the players.â†µ
Quite the opposite is the most likely. Buying an NBA team right now and forcing a favorable deal for ownership on the players would guarantee that his new asset would rise in value.