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Celebrity ISH: Money Alert > Will & Jada Philadelphia 76ers Part Ownership

On Tuesday, the National Basket Association announced that the Philadelphia 76ers have been sold in the midst of the lockout. According to USA Today, the investors, led by billionaire Joshua Harris, include Hollywood power couple, Will and Jada Smith, who have an undisclosed percentage in the NBA franchise.

During a press conference with the media, the team’s new CEO Adam Aron unveiled plans to reduce ticket prices. “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,” he said. “Many reductions will be by 50% more. This is not a sale or a promotion. These are our new ticket prices. Price will not be an obstacle in preventing Philadelphia sports fans from being able to enjoy NBA basketball in person. Our house is now your house,” he reassured fans.

Will Smith is the second major entertainer (after Jay-Z) to hold a significant percentage in a NBA team. The two are also working together to produce the film version of “Annie,” which will star Will and Jada’s daughter, Willow.

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