Scott O’Neil is stepping down from his role as CEO of Harris Blitzer Sports & Entertainment, the company which owns the New Jersey Devils and Philadelphia 76ers, the teams announced on Wednesday. O’Neil is leaving after eight years to “pursue new opportunities.”
“I’m not riding off into the sunset,” O’Neil told Sportico. “I like big opportunity.”
The 76ers went from being valued at $415 million in 2013 to a current value of $2.5 billion, according to Sportico.
“I’m leaving because it’s time,” O’Neil told the Associated Press. “I remember what it was like when we first walked in here, and to think we’ve grown this business, over $2 billion in value over six times in eight years, that’s what I do. Hypergrowth, super growth. I think that the right person coming in here will be a wonderful steward of this brand for years. But I think I’ve done what I came here to do.”
Under O’Neil’s direction, the 76ers became the first U.S. professional sports franchise to own an e-sports team and notched the first jersey patch sponsorship in “Big Four” sports history. Last December, O’Neil secured the NHL’s first helmet sponsor for the Devils.
HBSE first hired O’Neil as its CEO in 2013. Prior to joining HBSE, O’Neil served as president of Madison Square Garden Sports and worked in the NBA league office.