GWOP Report: Will Smith part of new Philadelphia 76ers ownership team

source: PhillySports

The NBA has officially announced the sale of the Sixers to a group headed by billionaire Joshua Harris. The new ownership group includes Philadelphia native Will Smith and wife Jada Pinkett Smith.

The NBA said its Board of Governors had “unanimously approved the sale” of the team. A news conference is scheduled for 11:30 Tuesday morning.

The new owners have named former Philadelphian Adam Aron CEO.

“My partners and I are thrilled to have become owners of the Sixers,” said Harris in the news release. “It’s an honor to be part of this storied franchise. We want to build on the team’s momentum and be world class and cutting edge in everything we do.”

The 46-year-old Harris, a Wharton grad, made his fortune as a leveraged buyout specialist. According to Forbes, he’s worth an estimated $1.5 Billion.

The deal is reportedly for $280 million.