76ers ask Employees to do their part in fighting the Coronavirus…and take a 20% pay cut?

News from last night:

Sixers and Devils at-will employees were informed today that temporary salary reductions of up to 20 percent will be instituted for employees making more than $50,000 starting April 15 through the end of June, @NYTSports has learned

— Marc Stein (@TheSteinLine) March 23, 2020

Confirmation shortly followed:

The Sixers and Devils, through Harris Blitzer Sports & Entertainment CEO Scott O’Neil, have confirmed @NYTSports’ report earlier tonight of salary reductions for full-time employees in both organizations with the following statement: pic.twitter.com/N7LMgvACAV

— Marc Stein (@TheSteinLine) March 24, 2020

Quick History:

In 2011 Joshua Harris purchased the 76ers for $287 million. The Sixers organization is currently evaluated at $2 billion. David Blitzer and Joshua Harris formed Harris Blitzer Sports & Entertainment which holds all their sports investments. Harris will serves as Owner/Chairman and Blitzer as Owner/Vice-Chairman

The other members of the investment group are: portfolio manager Art Wrubel, and former NBA agent and Sacramento Kings executive Jason Levien, as well as former Vail Resorts CEO Adam Aron, Martin J. Geller, David B. Heller, Travis Hennings, James Lassiter, Marc Leder, Michael Rubin, Will Smith & Jada Pinkett Smith, and Indonesian businessmen Handy Soetedjo & Erick Thohir.

It’s tough to keep track of an updated list of 76ers investors. As noted above, the list ranges from Joshua Harris to Kevin Hart.

• Joshua Harris
• Adam Aron
• David Blitzer
• Michael Rubin
• Will Smith
• Jada Pinkett Smith
• Kevin Hart
• Martin J. Geller
• David B. Heller
• Travis Hennings
• James Lassiter
• Art Wrubel
• Marc Leder
• Erick Thohir
• Handy Soetedjo

Here are some names that you are most familiar with and their current net worth.

• Joshua Harris: 3.8 Billion
• Adam Aron: 10.8 Million
• David Blitzer: 1.3 Billion
• Michael Rubin: 2.9 Billion
• Will Smith: $350 Million
• Jada Pinkett Smith: $50 Million
• Kevin Hart: $200 Million

Also worth noting – Sixers season ticket pricing has been consistently on the rise post-process years. If you haven’t caught on yet – this is complete bullshit and corporate greed at it’s finest. 

The silence of other key investors is deafening. Where is Will Smith and Jada Pinkett Smith? When was the last time they even attended a Sixers game? Kevin Hart? Fan boy Michael Rubin? Handy Soetedjo? Where are you?

Ah, here’s Handy:

Thanks Good

— Handy Soetedjo (@HandySoetedjo) October 17, 2013

Who gets paid to run Public Relations? This is an absolute no-brainer. Multi-millionaires have an opportunity right now to stand behind their employees and this city. Do what you’re completely capable of doing. Pay your employees and do what’s right.

I know it’s not the players responsibility but will someone tell the Sixers team that this is the perfect opportunity to stand up and instantly become a Sixers and Philadelphia legend? This is the perfect layup to become a hero. It really shouldn’t be this difficult. 

Pay your employees. Idiots.