Step aside, Jay-Z: Philadelphia's got its own superstar rapper running part of its basketball team. Will Smith has acquired a minority stake in the Philadelphia 76ers along with his wife, Jada Pinkett Smith, it was announced on Tuesday (Oct. 18).
According to CSN Philly, the couple acquired part of the team as it was being sold from Comcast-Spectacor to a group of investors led by multibillionaire Joshua Harris. Harris held a press conference at the Palestra on Tuesday morning to announce the plans of the team's new ownership. "It is an honor to become part of this storied franchise. We have a lot of work to do, but we have a rich history, a strong foundation and a bright future," says Harris.