Not long ago the fiercest competition in Philadelphia basketball involved the 76ers versus the Boston Celtics. But recently, it’s been two squads of battling billionaires.
On one side are owners of the 76ers: Josh Harris, co-founder of Apollo Global Management, David Blitzer, an executive at Blackstone Group, and real estate developer David Adelman. On the other: Brian Roberts, chief executive officer of Comcast Corp.
The 76ers want to build a new $1.3 billion home. Comcast, the cable and media conglomerate that owns the NBA team’s current venue, the Wells Fargo Center, wants them to stay. Since being announced over a year ago, the proposed development, called 76 Place, has divided the city and turned into an increasingly nasty public relations spat. Still, neither side is backing down.
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