W ill Smith just bought a much bigger playground to spend most of his days. The Philadelphia native and his wife, Jada Pinkett Smith, are officially minority shareholders of the 76ers NBA team in a deal that was confirmed by the league on Tuesday. Will and Jada are part of an ownership group that includes a former NBA executive, leveraged buyout specialist Josh Harris and an Indonesian media magnate. Forbes magazine valued the team at $330 million this year – which is 17th in the league. The Smiths join rappers Jay-Z, Nelly and Usher as entertainers-turned-part NBA owners with the investment. The NBA, sadly, is still in the midst of a lockout, and the first two weeks of the 2011-12 season have been canceled.
article courtesy of Gospel Connoisseur.com
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