Will Smith has confirmed he is in negotiations to buy his home town basketball team Philadelphia 76ers. The movie actor and former basketball star JULIUS IRVING are in the middle of talks to take over the team, which features sports hero Allen Iverson. Smith says, "We're looking into the purchase of the Sixers." If the buy-out goes through, Smith will join the likes of Nelly and JAY-Z, who are the co-owners of National Basketball Association (NBA) teams the CHARLOTTE BOBCATS and New Jersey Nets respectively.