Scott O’Neil, the CEO of the Philadelphia 76ers and New Jersey Devils, resigned Wednesday after eight years at the helm.
O’Neil was also a limited partner in Harris Blitzer Sports & Entertainment (HBSE), the parent company that owns both professional teams. O’Neil’s resignation is effective immediately, though he’ll assist in finding a successor.
O’Neil plans to pursue other opportunities.
“While I thoroughly enjoyed every moment of my time here, I am even more excited to build, grow, and drive my next platform,” O’Neil said.
HBSE has grown into one of the world’s largest sports and entertainment companies. The Sixers were valued at $415 million when O’Neil joined the organization in 2013. The franchise is now worth $2.5 billion, per Sportico.
Josh Harris and David Blitzer bought the Devils a month after O’Neil was hired and formed HBSE in 2017.
“Scott has accomplished so much on behalf of the organization in a relatively short amount of time, driving our growth, culture, and commitment to strengthening the communities in which we live, work, play, and win,” Harris said. “I cannot overstate how much we value Scott’s enormous contributions to the company and how grateful I am for his leadership and partnership in creating a best-in-class culture at HBSE. We know he will find great success in whatever he chooses to accomplish in the future, and we will always be among his biggest advocates.”
O’Neil also spent four years as president at Madison Square Garden.
–Field Level Media