Will Smith Confirms in Talks to Buy NBA Team

Actor Will Smith has confirmed he is in negotiations to buy the NBA's Philadelphia 76ers.

Smith is part of a group headed by NBA great Julius Irving, currently in talks with the 76ers current owner Comcast-Spectacor, to take over the team.

Smith says, "We're looking into the purchase of the Sixers."

The Smith/Irving group is not the only group currently bidding for the 76ers said Galatioto Sports Partners, the investment firm hired by Comcast-Spectacor to evaluate strategic alternatives, including a sale or a new partnership.

Last month Comcast-Spectacor said that it has decided to retain control of the NBA team after evaluating a possible sale or new partnership.

"Over the last summer, we were presented a variety of proposals involving the purchase of some or all of our interests in the team," Sixers chairman Ed Snider said. "When these parties came to us, it confirmed what we already knew, that the Sixers are a very valuable and popular franchise."

However this is a tactic used buy many companies to increase the offering price.

If the deal closes  Smith would be the latest rapper to hold a stake in a professional basketball team. Smith would join Jay-Z (The NETS), Usher (CAVS) and Nelly (BOBCATS) as NBA team co-owners.