Hollywood married couple Will Smith and Jada Pinkett-Smith are taking their talent to Philadelphia by becoming partial owners of the city "s professional basketball team, the 76ers.

Their ownership was confirmed Tuesday (October 18) afternoon.

A 46-year-old billionaire, Joshua Harris leads a new ownership team that includes fellow Wharton Grad David Blitzer, former NBA player agent and Sacramento Kings executive Jason Levien and Hollywood stars Will Smith and Jada Pinkett- Smith. "My partners and I are thrilled to have become owners of the Sixers," said Harris. "It is an honor to be a 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." (Fox News)

The team "s chief executive officer Adam Aron also revealed plans to make tickets more affordable.

"I "m announcing today that going forward, we are slashing - and I mean slashing - ticket prices on individual game tickets on just under 9,000 seats at the Wells Fargo Center for each and every Sixers home game," Aron said. "Indeed on thousands of seats each night, our ticket prices will be cut by 50 percent or more. This is not a sale or a promotion. These are our new ticket prices." (CSN Philly)

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