Tad Brown has agreed to become the CEO of the Philadelphia 76ers and New Jersey Devils, both holdings of Harris Blitzer Sports and Entertainment, sources told ESPN.

"Tad has an extensive track record of success in the sports and entertainment industry, and we are excited to have him on board to lead our elite management team for HBSE's next chapter," co-founder David Blitzer said in a statement. "With his experience and passion for growing businesses and global brands, he is poised to continue our organization's path forward and reach new levels of achievement."

Brown spent the past 15 years as CEO of the Houston Rockets, where he was the franchise's representative on the NBA's board of governors. Brown stepped down in Houston in April, and now rejoins Sixers president of basketball operations Daryl Morey, with whom he shared significant Western Conference success and a close working relationship while with the Rockets.

In 13 years together with the Rockets, Brown and Morey oversaw a 640-400 (.615) record, second-best in the NBA during that time. They've long described a "shorthand" of understanding and conversation that has been beneficial in collaboration.

Brown replaces Scott O'Neil, who recently departed as the Sixers-Devils CEO.

Brown will oversee business functions of the 76ers and Devils, including the Prudential Center in Newark, New Jersey, sources said.

In his almost two decades with Houston, Brown played a role in securing two NBA All-Star Games (2006 and 2013) and served on the NBA's media committee, working closely on media rights deals for both the league and the Rockets.