Harold Katz, a former owner of the 76ers and the founder of Willow Grove-based Nutrisystem, died on January 24 at 87, writes Keith Pompey for The Philadelphia Inquirer.
Katz is best known for leading the Philadelphia team to its most recent NBA championship during the 1982-83 season. He owned the Sixers for nearly 15 years, from 1981 to 1996, before he sold the franchise to Comcast Spectacor.
In 1986, he faced criticism for trading Hall of Famer Moses Malone and Terry Catledge, along with two first-round picks, to the Washington Bullets in exchange for Cliff Robinson and Jeff Ruland.
Katz initially invested $20,000 in 1972 to open the first Nutrisystem center. After launching the Willow Grove location, he then expanded with another center before turning Nutrisystem into a franchise. By the time he sold the business in 1986, it had turned into the largest medically supervised weight control company in the nation.
He also founded H. Katz Capital Group, a private equity firm, and served on the boards of directors of United Valley Bank and the Hero Scholarship Fund of Philadelphia, among other organizations.
Read more about former 76ers owner Harold Katz in The Philadelphia Inquirer.
