Posted October 19, 2011 by DJ Enuff in Sports

Will Smith buys 76er’s!

@SportsBata ..nuff said

Breaking News: The 76er’s got new ownership! Philly native Will Smith and his wife Jada Pinkett-Smith got a minority share in the Philly b-ball squad! confirmed the story, Tuesday night! Smith and his wife are part of an ownership group that includes a former NBA executive, NY based leveraged buyout specialist Josh Harris and an Indonesian media magnate, according to the league’s website. – nydailynews

The new owners purchased the group (from Comcast-Spectator, led by chairman Ed Snider) for a reported $280 Million, according to the Philadelphia Daily News. Snider purchased the group in 1996, and Forbes magazine valued the team at $330 Million this year (17th in the league). Smith has been interested in purchasing the 76er’s since 2006, and finally got his wish.

“This is one of the hardest business decisions I’ve ever had to make,” Snider said in a statement on Tuesday. “The Sixers are family, and it is very difficult to say goodbye to an organization of great people with whom we have worked so closely over the last 15 years.” – nydailynews