General Management Club tailgates with Sixers executives
Chris Tanzi, WG'06
Issue date: 3/28/05 Section: Insider
Next, Comcast-Spectacor Chairman, Ed Snider, fielded questions from the Wharton students. Snider, renown for his leadership in the sports and entertainment industry, heads the organization consisting of the Philadelphia Flyers, Philadelphia 76ers, Wachovia Center, Wachovia Spectrum, and Philadelphia Phantoms. Snider began the Q&A telling the story of his decision to risk mortgaging his home to purchase the Flyers in 1966. Snider mentioned that after attending a hockey game in New York, he thought it was the greatest spectator sport he had even seen. Snider reminisced about his experiences in trying to generate financial support for a hockey franchise in Philadelphia. Initially, he hoped to hold a minority stake in the business while directing operations. However, due to the lack of willing partners, he mortgaged his home and secured loans to obtain a 60% stake in the team. The Wharton students were interested in learning what motivated Snider to make this gutsy decision; Snider explained that he believes that "entrepreneurship is in a person's blood" and that a good entrepreneur is successful because he or she can follow "feel and instinct". Snider also addressed the topic of critical junctures he encountered while running the Flyers. Snider told the story of the roofing literally blowing off of the Spectrum during the early years. After battling with politicians and insurance companies, Snider lead the repair of the facility. He recounted that his endeavor into hockey was a success as evidenced by the Flyers having been virtually sold out since their fourth year of existence and winning the championship in their seventh year.
When the discussion turned to the future of hockey and dissatisfaction among the fan base following the cancellation of the season, Snider expressed a great deal of confidence in the sport. In an absolute worst-case scenario, Snider explained, the fan base would be nonexistent, "starting over from its initial introduction in the early 1960s". Reiterating what a great spectator sport hockey is, Snider relayed the utmost confidence that the fan base will grow again.
When the discussion turned to the future of hockey and dissatisfaction among the fan base following the cancellation of the season, Snider expressed a great deal of confidence in the sport. In an absolute worst-case scenario, Snider explained, the fan base would be nonexistent, "starting over from its initial introduction in the early 1960s". Reiterating what a great spectator sport hockey is, Snider relayed the utmost confidence that the fan base will grow again.