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Will Smith and wife Jada Pinkett Smith are part of a recent group who bought the NBA’s Philadelphia 76ers.

The NBA has officially announced the sale of the Sixers to a group headed by billionaire Joshua Harris.

The NBA said its Board of Governors had “unanimously approved the sale” of the team and the new owners have named former Philadelphian Adam Aron CEO.

“My partners and I are thrilled to have become owners of the Sixers,” said Harris in the news release. “It’s an honor to be part of this storied franchise. We want to build on the team’s momentum and be world class and cutting edge in everything we do.”

According to Forbes, The 46-year-old Harris, a Wharton grad, is an estimated $1.5 Billion worth, which was no problem for the the deal that is reportedly for $280 million.

Will Smith will be in the same division as Jay-Z’s Brooklyn Nets.