Will & Jada Smith Part Of Group That Purchased Philadelphia 76’ers

It’s interesting, with all the talk of NBA teams losing money, people are still lining up to purchase teams and be a part of them. Keep that in mind as the owners and David Stern continue their press campaign.

But anyway, add Will Smith and wife Jada (one of my FAVORITE COUPLES) to the list of celebrities that have a stake in a franchise. The couple is part of a group spearheaded by billionaire Joshua Harris who have purchased the Philadelphia 76ers from Comcast-Spectacor for $280 million. The group also includes David Blitzer, Art Wrubel, James Lassiter (Will Smith’s manager and Jason Levien. Levien is a former NBA player agent and Sacramento Kings executive. The sale has been officially approved by the league.

The group purchased 100% percent of the franchise, not including the Wells Fargo Center. The new ownership group has already announced several changes including, price reductions on tickets- Certain lower-level seats that were $54 last season will be dropped to $29.  A new marketing campaign: “Passionate. Intense. Proud.” and a website for fans to communicate with the new owners, www.newsixersowners.com.

Also confirmed, general manager Ed Stefanski will not be staying on with the franchise.