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A young man born and raised in West Philadelphia can now say he owns the city’s NBA team.

The NBA Board of Governors voted unanimously to approve the $250 million dollar deal which names Will Smith and Jada Pinkett-Smith as the majority owners of the 76ers, The Sixer Sense reports.

Smith obtained majority ownership from Josh Harris, long-time owner and leader financier of the team. Now, Harris hands over the reigns to one of Hollywood’s most beloved and esteemed couples.

In an official statement, Will expressed his excitement for the new acquisition:

“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.”

This is a huge win for the Smith family since the franchise is valued at around $700 million dollars.



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Big Willie Style: Will Smith And Jada Pinkett-Smith Are Now Majority Owners Of The 76ers  was originally published on