The 76ers are close to signing former Portland Trail Blazers executive Tom Penn as their new general manager, according to a source. Penn would replace president Rod Thorn, who is set to move to an advisory role with the team.

Thorn is in the last of his 3-year contract reached with then-owner Ed Snider. The contract also called for Thorn to serve another 5 years as a team adviser. It is believed Thorn will move immediately to his new role when Penn becomes GM.

via Bob Cooney of the Philadelphia Daily News