Will Smith becomes owner of basketball team

London: Multi-talented Hollywood actor Will Smith has become a part-owner of his hometown basketball team, the Philadelphia 76ers.

The `I Am Legend` star and his wife Jada Pinkett Smith are among a group of investors who have taken over the struggling franchise, Daily Express reported. The deal was unveiled on October 18 and it has yet to be revealed how big a stake the Smiths hold. They`ll have to wait to make their debuts as co-owners at a game as the National Basketball Association league is currently in the middle of a lock-out over a pay dispute between the players and team owners. The couple join close pal Jay-Z - who is a minority shareholder in the New Jersey Nets - as celebrity NBA investors. PTI