PHILADELPHIA (AP) — The Philadelphia 76ers are under new management.

The deal to sell the Sixers to a group led by New York-based leveraged buyout specialist Joshua Harris has been completed. The Sixers will hold a press conference Tuesday to introduce the owners. The sale ends Comcast-Spectacor’s 15-year run of ownership.

The group also includes David Blitzer, Art Wrubel, and Jason Levien. Levien is a former NBA player agent and Sacramento Kings executive.

NBA Commissioner David Stern says Harris and Blitzer bring vast business experience that will greatly benefit the team as it continues to grow both on and off the court.

Harris is one of three founders of Apollo Global Management, a publicly listed alternative investment manager.

Comcast-Spectacor, led by chairman Ed Snider, purchased the Sixers from Harold Katz on April 24, 1996. Comcast-Spectacor also owns the NHL’s Philadelphia Flyers.

“Over the last 15 years, a number of different individuals or entities have inquired about purchasing the Sixers, and to be honest, I was not looking to sell the team,” Snider said. “But in discussions with Josh and his partners, it became clear that this was an offer that made sense for the franchise and for the future of Comcast-Spectacor.

Comcast-Spectacor also owns the Wells Fargo Center. The Sixers will become a tenant in the building once the NBA lockout is over.