Ed Snider is excited for the opening of Philly Live!, but he appears glad to have agreed on a sale of the 76ers.

"It was mostly economics," Snider said of the decision.

"A lot," Snider said when asked if the franchise was losing money, declining specifics. "We felt that we had given it our best shot and it was time for someone else to take over."

Comcast-Spectacor COO Peter Luukko said the Sixers were on the market because the sports and entertainment company decided to reallocate its capital and focus on expanding its facility management, food services, and ticketing subsidiary endeavors.

"It's not like teams are big moneymakers these days," Luukko said. "At the end of the day, it's not like we're losing the team because we still have the team on a long-term lease. It's the best of both worlds. It gives somebody an opportunity to be an owner and put their stamp on the team. For us, we'd love to have them as a tenant."