After another terrible season the Philadelphia 76ers have next year to look forward to with the announcement that Will and Jada Pinkett Smith are now majority owners of the franchise.
According to reports, a press conference was held in which the Hollywood couple was introduced as the now majority owners of the beloved NBA team, replacing now minority-interest owner multi-billionaire Joshua Harris.
The NBA Board of Governors unanimously approved the transfer of majority stake over to The Smiths.
Will Philly now be looked at higher on the free agent attraction list? Not likely, until they can develop the younger prospects, but for the Academy Award winning actor, the hometown move is legit. Will and Jada purchased the franchise for somewhere around $250 million, with the team valued at around $700 million.
“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. We want to personally thank Joshua Harris for his strong leadership, for turning over an NBA franchise which is just now stepping through the door into a new and winning era, and for giving the city of Philadelphia a fairytale success story which will unfold before their very eyes. We are honored to continue this pursuit of excellence, not just for the championships that await this team, but for the wonderful city of Philadelphia – a city long overlooked for its contributions to professional sports.“ – Smith’s
Via VIBE
ButIsItNEW 