Will Smith and Jada Pinkett Smith are following in the footsteps of Jay-Z, Nelly and Usher: supplementing their entertainment careers with part ownership of an NBA team. In a deal that was confirmed by the league on Tuesday, the two have officially taken minority stakes in the Philadelphia 76ers.
Suggested Reading
The couple is part of an ownership group that includes a former NBA executive, leveraged-buyout specialist Josh Harris and an Indonesian media magnate, the New York Daily News reports. The group takes ownership from Comcast-Spectator, which, led by chairman Ed Snider, purchased the team in 1996.
The Philadelphia Daily News reported that the new owners paid about $280 million.
Apparently the players see the value in owners whose celebrity status lets them offer more than just money to the organization: Guard Evan Turner posted his approval on Twitter: "I think it's dope that the fresh prince is one of our new owners. Maybe Willow can perform at halftime."
Read more at the Daily News.
In other news: Jay-Z and Buffett's Financial-Literacy Video.
Like The Root on Facebook. Follow us on Twitter.
Straight From 
Sign up for our free daily newsletter.