Philadelphia 76ers and New Jersey Devils owner Joshua Harris is among the wealthiest people in America. Harris is ranked no. 222 among Forbes’ top 400 richest people in the country. However, he is being frugal with the Sixers.
The Sixers could use some of his wealth to bring in a few superstars and contend for a championship. Instead, they’re competing for a chance to draft Andrew Wiggins just to go the cheap route of having him under the rookie contract and hoping he’ll be the next LeBron James and lead them to a championship without breaking the bank or going over the luxury tax penalty.
Harris’ net worth is $2.5 billion from all his assets including the Sixers, Devils and buyout firm Apollo Global Management. He’s one of the wealthiest NBA owners. While this is not his salary, he still ranks high enough to be able to shed money on marquee free agents this summer. He jumped 76 spots from last year’s list. There could be a correlation between his net worth and the cost-cutting moves he made since taking over for the Sixers.
Harris needs to spend the money if the Sixers are to compete. The highest-paid Sixer is Thaddeus Young, who makes a modest $8.9 million this season, while a team like two-time defending champion Miami Heat have three players who make over double the amount Young makes.
While Wiggins seems tempting he’s only one player. The Sixers will need three big-named players in order to have a chance. Most NBA Finals teams like the Heat usually have three stars. The Sixers have a semi-star in Young.
Harris should use the Oklahoma City Thunder as an example of a team drafting a franchise player but failing to win a championship because of that missing star. The Thunder drafted Kevin Durant and also Russell Westbrook, but couldn’t get past the Heat to win a title.
The Heat, on the other hand gave the big three of James, Dwyane Wade and Chris Bosh big contracts, and they went on to win two championships.