After spending eight seasons as the CEO of Harris-Blitzer Sports & Entertainment, the managing group of the NBA's Philadelphia 76ers and NHL's New Jersey Devils, Scott O'Neil plans to step down from his position, HBSE announced on Wednesday. 

“I would like to thank Josh Harris and David Blitzer for inspiring, engaging, and empowering me to bring together the most talented executive team in sports and entertainment,” O’Neil said via a press release on Wednesday. “Josh and David are extraordinary leaders, partners, and friends. Their commitment to our teams, brands, employees -- and most importantly -- their commitment to serving the City of Philadelphia, Newark, and Camden -- made our success together possible."

O'Neil, who has spent over two decades working in the sports and entertainment industry, intends to pursue other opportunities as he steps away from running the daily operation at the HBSE offices, overseeing both professional sports franchises and much more.

“Scott has accomplished so much on behalf of the organization in a relatively short amount of time, driving our growth, culture, and commitment to strengthening the communities in which we live, work, play, and win,” said HBSE Co-Founder Josh Harris. “I cannot overstate how much we value Scott’s enormous contributions to the company and how grateful I am for his leadership and partnership in creating a best-in-class culture at HBSE. We know he will find great success in whatever he chooses to accomplish in the future, and we will always be among his biggest advocates.” 

What's next for O'Neil? The now-former CEO has yet to reveal his next move. While he's grateful to have had the CEO position at HBSE for eight successful years, O'Neil is looking forward to starting fresh.

"While I thoroughly enjoyed every moment of my time here," O'Neil explained. "I am even more excited to build, grow, and drive my next platform.”   

Justin Grasso covers the Philadelphia 76ers for Sports Illustrated. You can follow him for live updates on Twitter: @JGrasso_.