Will & Jada Pinkett-Smith Invest In Philadelphia 76ers

(AllHipHop News) Rapper Will Smith is among a group of investors who are now owners of the Philadelphia 76ers, it was announced today during a press conference.

The sale was unanimously approved by the NBA Board of Governors last week, to investors led by multibillionaire Joshua Harris.

"My partners and I are thrilled to have become owners of the Sixers," Joshua Harris said in a statement."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."

Will Smith, a Philadelphia native, and his wife Jade Pinkett own undisclosed percentage of Philadelphia 76ers.

The investment makes Will Smith the second major record to have a significant stake in an NBA basketball team.

Jay-Z, who is working with the Smith's to produce the a film version of “Annie," also owns a percentage of the Brooklyn Nets.