Here is Sam Hinkie's 13-page resignation letter to 76ers ownership

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Mustard Minute: Best Excerpts from Sam Hinkie's Resignation Letter to Sixers

The basketball world was rocked Wednesday night when news emerged that Sam Hinkie's process in Philadelphia had come to an abrupt end. Nearing the end of Year 3 of an extended rebuild -- that involved historic levels of losing and, hence, draft pick accumulation -- Hinkie resigned, citing that "I no longer have the confidence that I can make good decisions on behalf of investors in the Sixers."

Philadelphia's rebuild has been largely maligned, as it has been openly communicated that winning was not the top priority. Since taking over as general manager and president of basketball operations before the 2013-14 season, the 76ers have gone 47-195 -- by far the worst record in the NBA over that span.

SEE ALSO: Report: Sam Hinkie is out as 76ers GM

The futility has resulted in positive draft results, though. Philadelphia has garnered Nerlens Noel and Jahlil Okafor as fruits of their losses, while European star Dario Saric and -- ideally -- Joel Embiid will join the fold next season. There is potential for the team to own as many as four first-round selections in this June's draft, too -- including two of the first five picks.

But when ownership brought on longtime basketball exec Jerry Colangelo to aid team building in 2015, the demise of Hinkie's intricate, numbers-based approach was clear. Just four months later, Hinkie felt he was being undermined by Colangelo and losing trust of ownership.

The end result? Hinkie's resignation, and Colangelo's eventual hiring of his son, Bryan, to replace him.

Several media outlets obtained Hinkie's 13-page resignation letter sent to team shareholders on Wednesday, which you can read in full (via Sports Illustrated), below.

Sam Hinkie Letter by Sports Illustrated

In the letter, Hinkie cites quotes from various famous thinkers and businesspeople. He concludes the letter by telling owners, "I will be repotted professionally. That is often uncomfortable; most growth is. But it's also often healthier over the longer sweep of history, too."

An excerpt from Page 4 attempts to outline why he has so strongly believed in taking this drastically different approach:

A few examples might help. Step away from basketball and imagine for a moment this is investment management, and your job is to take your client's money and make it grow. It's January 1, 2015 and the S&P 500 is $171.60, exactly the same price it has been since January 1, 1985. No fluctuation up or down. Flat every single day. And your job for every day of the past 30 years is to make money for your clients by investing. What would you do?

In the NBA, that's wins. The same 82 games are up for grabs every year for every team. Just like in 1985 (or before). To get more wins, you're going to have to take them from someone else. Wins are a zero-growth industry (how many of you regularly choose to invest in those?), and the only way up is to steal share from your competitors. You will have to do something different. You will have to be contrarian.

As he notes on Page 12, Hinkie leaves Philly with the team in prime position to take the step toward competitiveness as soon as next year.

Your club is on solid footing now, with much hard work yet to be done. As we continued to invest in young players, acquire more draft selections, and maintain cap flexibility the forward-looking markets took notice. Our Future Franchise Rankings (ESPN's) that began at 24th in a 30-team league in May of 2013 climbed to 19th in 2014, 17th in 2015, and most recently via RealGM's rankings in December of 2015, 12th. I think that is imminently reasonable, as is a couple of spots higher.

It seems that the Sixers will be moving ahead with Jerry and Bryan Colangelo running the show. During Bryan Colangelo's most recent stint as NBA exec with Toronto, infamous mishaps included drafting Andrea Bargnani first overall in 2006, handing a $20 million contract to Landry Fields and trading assets and draft compensation for Rudy Gay, who was traded months later under a new Toronto regime.

For three years, 76ers fans were sold on a drawn-out, losing process resulting in one of the NBA's best homegrown rosters. Now, with Hinkie out of the picture and the Colangelos in charge, there's no telling where the franchise is headed now that ownership has pulled the plug on the process before it got to bear significant fruit.

- By John Dorn

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Here is Sam Hinkie's 13-page resignation letter to 76ers ownership
Syracuse's Michael Gbinije (0) goes up for a shot against North Carolina defense during the first half of the NCAA Final Four tournament college basketball semifinal game Saturday, April 2, 2016, in Houston. (AP Photo/Michael Simmons)
Oklahoma forward Khadeem Lattin (12) defends against Villanova guard Mikal Bridges (25) during the second half of the NCAA Final Four tournament college basketball semifinal game Saturday, April 2, 2016, in Houston. (AP Photo/David J. Phillip)
Ryan Arcidiacono goes up for a layup during the first half of the NCAA Final Four tournament college basketball semifinal game against Oklahoma, Saturday, April 2, 2016, in Houston. (AP Photo/Eric Gay)
HOUSTON, TEXAS - APRIL 02: Brice Johnson #11 of the North Carolina Tar Heels defends a shot by Tyler Roberson #21 of the Syracuse Orange in the first half during the NCAA Men's Final Four Semifinal at NRG Stadium on April 2, 2016 in Houston, Texas. (Photo by Chris Steppig - Pool/Getty Images)
HOUSTON, TEXAS - APRIL 02: Buddy Hield #24 of the Oklahoma Sooners reacts in the second half against the Villanova Wildcats during the NCAA Men's Final Four Semifinal at NRG Stadium on April 2, 2016 in Houston, Texas. (Photo by Streeter Lecka/Getty Images)
HOUSTON, TEXAS - APRIL 02: Brice Johnson #11 of the North Carolina Tar Heels and Marcus Paige #5 celebrate defeating the Syracuse Orange 83-66 as Tyler Roberson #21 of the Syracuse Orange reacts after the NCAA Men's Final Four Semifinal at NRG Stadium on April 2, 2016 in Houston, Texas. (Photo by Streeter Lecka/Getty Images)
CHICAGO, IL - MARCH 27: Malachi Richardson #23 of the Syracuse Orange falls off of the court in the second half against the Virginia Cavaliers during the 2016 NCAA Men's Basketball Tournament Midwest Regional Final at United Center on March 27, 2016 in Chicago, Illinois. (Photo by Jamie Squire/Getty Images)
LOUISVILLE, KY - MARCH 26: The Villanova Wildcats celebrate defeating the Kansas Jayhawks 64-59 during the 2016 NCAA Men's Basketball Tournament South Regional at KFC YUM! Center on March 26, 2016 in Louisville, Kentucky. (Photo by Andy Lyons/Getty Images)
LOUISVILLE, KY - MARCH 26: Frank Mason III #0 of the Kansas Jayhawks falls as he drives between Josh Hart #3 of the Villanova Wildcats and Kris Jenkins #2 in the second half during the 2016 NCAA Men's Basketball Tournament South Regional at KFC YUM! Center on March 26, 2016 in Louisville, Kentucky. (Photo by Kevin C. Cox/Getty Images)
PHILADELPHIA, PA - MARCH 25: Marcus Paige #5 of the North Carolina Tar Heels celebrates after a basket in the first half against the Indiana Hoosiers during the 2016 NCAA Men's Basketball Tournament East Regional at Wells Fargo Center on March 25, 2016 in Philadelphia, Pennsylvania. (Photo by Streeter Lecka/Getty Images)
ANAHEIM, CA - MARCH 24: Grayson Allen #3 of the Duke Blue Devils goes up for a shot against Jordan Bell #1 of the Oregon Ducks in the second half in the 2016 NCAA Men's Basketball Tournament West Regional at the Honda Center on March 24, 2016 in Anaheim, California. (Photo by Harry How/Getty Images)
Notre Dame's Zach Auguste, left, goes up for a shot past North Carolina's Kennedy Meeks during the first half of a regional final men's college basketball game in the NCAA Tournament, Sunday, March 27, 2016, in Philadelphia. (AP Photo/Chris Szagola)
Virginia's Isaiah Wilkins (21) attempts to shoot between Syracuse's Tyler Roberson (21) and DaJuan Coleman during the second half of a college basketball game in the regional finals of the NCAA Tournament, Sunday, March 27, 2016, in Chicago. (AP Photo/Nam Y. Huh)
Villanova forward Kris Jenkins (2) celebrates after a regional final men's college basketball game in the NCAA Tournament against Kansas, Saturday, March 26, 2016, in Louisville, Ky. Villanova won 64-59. (AP Photo/Timothy D. Easley)
Oregon forward Dwayne Benjamin, left, and forward Elgin Cook react to their loss against Oklahoma during an NCAA college basketball game in the regional finals of the NCAA Tournament, Saturday, March 26, 2016, in Anaheim, Calif. (AP Photo/Gregory Bull)
Oregon forward Chris Boucher leaves the court after their loss to Oklahoma during an NCAA college basketball game in the regional finals of the NCAA Tournament, Saturday, March 26, 2016, in Anaheim, Calif. (AP Photo/Gregory Bull)
Gonzaga's Eric McClellan (23) and Josh Perkins (13) embrace in the locker room after an NCAA college basketball game in the regional semifinals of the NCAA Tournament, Friday, March 25, 2016, in Chicago. Syracuse won 63-60. (AP Photo/Nam Y. Huh)
Syracuse's Tyler Lydon (20) celebrates with Trevor Cooney (10) after getting fouled in the final seconds of a college basketball game in the regional semifinals of the NCAA Tournament, Friday, March 25, 2016, in Chicago. Syracuse won 63-60. (AP Photo/Charles Rex Arbogast)
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Virginia's Anthony Gill (13) dunks during the first half of a college basketball game against Iowa State in the regional semifinals of the NCAA Tournament, Friday, March 25, 2016, in Chicago. (AP Photo/Charles Rex Arbogast)
Maryland guard Melo Trimble (2) passes the ball to a teammate between the defense of Kansas forward Landen Lucas (33) and guard Wayne Selden Jr. during the first half of an NCAA college basketball game in the regional semifinals of the men's NCAA Tournament in Louisville, Ky., Thursday, March 24, 2016. (AP Photo/John Flavell)
Oklahoma forward Dante Buford, left, scores as Texas A&M guard Jalen Jones looks on during the second half of an NCAA college basketball game in the regional semifinals of the NCAA Tournament, Thursday, March 24, 2016, in Anaheim, Calif. (AP Photo/Gregory Bull)
Oklahoma forward Ryan Spangler, left, battles Texas A&M center Tonny Trocha-Morelos middle, and Buddy Hield (24) for a rebound during the second half of an NCAA college basketball game in the regional semifinals of the NCAA Tournament, Thursday, March 24, 2016, in Anaheim, Calif. (AP Photo/Gregory Bull)
Texas A&M guard Jalen Jones, middle, battles Oklahoma center Jamuni McNeace, left, and guard Jordan Woodard for a rebound during the first half of an NCAA college basketball game in the regional semifinals of the NCAA Tournament, Thursday, March 24, 2016, in Anaheim, Calif. (AP Photo/Mark J. Terrill)
RALEIGH, NC - MARCH 17: Ben Bentil #0 of the Providence Friars dunks the ball in the first half over Elijah Stewart #30 of the USC Trojans during the first round of the 2016 NCAA Men's Basketball Tournament at PNC Arena on March 17, 2016 in Raleigh, North Carolina. (Photo by Grant Halverson/Getty Images)
RALEIGH, NC - MARCH 17: Kennedy Meeks #3 of the North Carolina Tar Heels rebounds against the Florida Gulf Coast Eagles during the first round of the NCAA Men's Basbetball Tournament at PNC Arena on March 17, 2016 in Raleigh, North Carolina. (Photo by Grant Halverson/Getty Images)
RALEIGH, NC - MARCH 17: Zach Johnson #5 of the Florida Gulf Coast Eagles dives to shoot the ball in the first half against Isaiah Hicks #4 of the North Carolina Tar Heels during the first round of the 2016 NCAA Men's Basketball Tournament at PNC Arena on March 17, 2016 in Raleigh, North Carolina. (Photo by Streeter Lecka/Getty Images)
Arizona guard Gabe York hides his emotions as a teammate rests his hand on his head in the closing minute against Wichita State during the first round of the NCAA college men's basketball tournament in Providence, R.I., Thursday, March 17, 2016. Wichita State defeated Arizona 65-55. (AP Photo/Charles Krupa)
DENVER, CO - MARCH 17: Roger Woods #0 of the Arkansas Little Rock Trojans and P.J. Thompson #3 of the Purdue Boilermakers fight for a ball during the first round of the 2016 NCAA Men's Basketball Tournament at the Pepsi Center on March 17, 2016 in Denver, Colorado. (Photo by Justin Edmonds/Getty Images)
PROVIDENCE, RI - MARCH 17: Taurean Prince #21 of the Baylor Bears dunks the ball in the first half against the Yale Bulldogs during the first round of the 2016 NCAA Men's Basketball Tournament at Dunkin' Donuts Center on March 17, 2016 in Providence, Rhode Island. (Photo by Maddie Meyer/Getty Images)
Indiana guard Yogi Ferrell drives past Chattanooga guard Johnathan Burroughs-Cook, right, during the first half of a first-round men's college basketball game in the NCAA Tournament, Thursday, March 17, 2016, in Des Moines, Iowa. (AP Photo/Charlie Neibergall)
Kansas' Perry Ellis (34) dunks as Austin Peay's Jared Savage, right, watches, during a first-round men's college basketball game in the NCAA Tournament in Des Moines, Iowa, Thursday, March 17, 2016. (AP Photo/Nati Harnik)
Kansas forward Jamari Traylor, left, fights for a rebound with Austin Peay center Chris Horton during the first half of a first-round men's college basketball game in the NCAA Tournament, Thursday, March 17, 2016, in Des Moines, Iowa. (AP Photo/Charlie Neibergall)
Yale forward Justin Sears (22) slams a dunk as he gets past Baylor forward Taurean Prince (21) in the second half during the first round of the NCAA college men's basketball tournament in Providence, R.I., Thursday, March 17, 2016. (AP Photo/Charles Krupa)
Butler forward Austin Etherington (0) loses the ball as Texas Tech guard Toddrick Gotcher (20) prepares to pick it up during a first-round men's college basketball game in the NCAA Tournament, Thursday, March 17, 2016, in Raleigh, N.C. (AP Photo/Chuck Burton)
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Saint Joseph's forward DeAndre Bembry, bottom, and Cincinnati forward Octavius Ellis (2) go after the ball during the first half of a first-round men's college basketball game in the NCAA Tournament in Spokane, Wash., Friday, March 18, 2016. (AP Photo/Young Kwak)
Pittsburgh's Sheldon Jeter, top, grabs a rebound over Wisconsin's Zak Showalter during the second half in a first-round men's college basketball game in the NCAA tournament, Friday, March 18, 2016, in St. Louis. Wisconsin won 47-43. (AP Photo/Jeff Roberson)
Michigan State's Bryn Forbes, left, lose control of the ball on his way to the basket as teammate Javon Bess, right, watches and Middle Tennessee's Darnell Harris, center, defends during the second half in a first-round men's college basketball game in the NCAA tournament, Friday, March 18, 2016, in St. Louis. Middle Tennessee won 90-81. (AP Photo/Jeff Roberson)
Syracuse's Malachi Richardson (23) is fouled on his way to the basket by Dayton's Dyshawn Pierre as Syracuse's Tyler Roberson (21) and Dayton's Scoochie Smith (11) watch during the second half in a first-round men's college basketball game in the NCAA tournament, Friday, March 18, 2016, in St. Louis. Syracuse won 70-51. (AP Photo/Jeff Roberson)
SPOKANE, WA - MARCH 20: DeAndre Bembry #43 of the Saint Joseph's Hawks goes up with a reverse dunk against hte Oregon Ducks in the first half during the second round of the 2016 NCAA Men's Basketball Tournament at Spokane Veterans Memorial Arena on March 20, 2016 in Spokane, Washington. (Photo by Patrick Smith/Getty Images)
NEW YORK, NY - MARCH 20: Adam Woodbury #34 of the Iowa Hawkeyes goes up against Phil Booth #5 of the Villanova Wildcats in the second half during the second round of the 2016 NCAA Men's Basketball Tournament at Barclays Center on March 20, 2016 in the Brooklyn borough of New York City. (Photo by Al Bello/Getty Images)
SPOKANE, WA - MARCH 18: Rasheed Sulaimon #0 of the Maryland Terrapins puts up a shot against the South Dakota State Jackrabbits during the first round of the 2016 NCAA Men's Basketball Tournament at Spokane Veterans Memorial Arena on March 18, 2016 in Spokane, Washington. (Photo by Ezra Shaw/Getty Images)
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OKLAHOMA CITY, OK - MARCH 18: Isaiah Taylor #1 of the Texas Longhorns reacts after Paul Jesperson #4 of the Northern Iowa Panthers hit a half court three pointer to win the game with a score of 75 to 72 during the first round of the 2016 NCAA Men's Basketball Tournament at Chesapeake Energy Arena on March 18, 2016 in Oklahoma City, Oklahoma. (Photo by Ronald Martinez/Getty Images)
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