{"id":103340,"date":"2022-10-21T02:49:17","date_gmt":"2022-10-21T02:49:17","guid":{"rendered":"https:\/\/harchi90.com\/michael-rubin-sells-minority-stake-in-76ers-david-adelman-buys-substantial-share-news-scores-highlights-stats-and-rumors\/"},"modified":"2022-10-21T02:49:17","modified_gmt":"2022-10-21T02:49:17","slug":"michael-rubin-sells-minority-stake-in-76ers-david-adelman-buys-substantial-share-news-scores-highlights-stats-and-rumors","status":"publish","type":"post","link":"https:\/\/harchi90.com\/michael-rubin-sells-minority-stake-in-76ers-david-adelman-buys-substantial-share-news-scores-highlights-stats-and-rumors\/","title":{"rendered":"Michael Rubin Sells Minority Stake in 76ers; David Adelman Buys ‘Substantial’ Share | News, Scores, Highlights, Stats, and Rumors"},"content":{"rendered":"
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Leon Bennett\/Getty Images<\/span><\/small><\/div>\n

Michael Rubin has sold his 10 percent stake in Harris Blitzer Sports & Entertainment, according to ESPN’s Adrian Wojnarowski.<\/p>\n

The company has ownership stakes in the NBA’s Philadelphia 76ers, the NHL’s New Jersey Devils and Crystal Palace of the English Premier League.<\/p>\n

Wojnarowski reported David Adelman bought a “substantial share” of Rubin’s previous stake and is now a limited partner in Harris Blitzer Sports & Entertainment.<\/p>\n

Adelman addressed the news on social media:<\/p>\n

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David Adelman @david_adelman<\/span><\/p>\n

honored to announce; I’ll be joining the ownership of the @sixers<\/a> and HBSE. I’ve been rooting for the 76ers my whole life,thank you Josh Harris, David Blitzer, and my close friend @Michael<\/ a> Rubin for giving me this opportunity to be a part of this special organization. Let’s go! pic.twitter.com\/gqKmVae0gU<\/a><\/p>\n

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Rubin announced in June he would divest himself of the Sixers, citing potential conflicts of interest that stem from serving as CEO of Fanatics.<\/p>\n

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Michael Rubin @michaelrubin<\/span><\/p>\n

Thank you, @sixers<\/a> fans \u2764\ufe0f pic .twitter.com\/46YX0Zoahm<\/a><\/p>\n

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“With the launch of our trading cards and collectibles business earlier this year\u2014which will have individual contracts with thousands of athletes globally\u2014and a soon-to-launch sports betting operation, these new businesses will directly conflict with the ownership rules of sports leagues ,” he said.<\/p>\n

Harris and Blitzer have already been working closely with Adelman. they announced<\/a> in July he was named the chairman of 76 Devcorp, the real estate company tasked with building a new downtown arena for the 76ers.<\/p>\n

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Philadelphia 76ers @sixers<\/span><\/p>\n

Today we announced the site where we propose building our future home, @76Place<\/a> at Market East. <\/p>\n

FULL RELEASE: https:\/\/t.co\/CtACyZcVqH<\/a> | #76Place<\/a> pic.twitter.com\/YPijySYgCt<\/a><\/p>\n

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Last December, sportico<\/a> valued the Sixers at $2.7 billion, the 11th-highest figure in the NBA. The Devils were the 21st-most valuable NHL franchise at $750 million on the eve of the 2021-22 season.<\/p>\n<\/div>\n<\/div>\n