Report: Dr. J, Will Smith in group trying to buy Sixers

Updated: October 23, 2006, 7:55 AM ET
ESPN.com news services

While one group vying to buy the Philadelphia 76ers has dropped out of the running, one high-profile group remains.

According to a report from the Philadelphia Inquirer on Sunday, four groups are still in the running, including one that includes Hall of Famer Julius Erving and entertainer Will Smith, a Philadelphia native.

A venture capital fund led by Ian Berg and Wayne Kimmel abandoned their quest to buy the team from Comcast Spectacor, according to a person with knowledge of the negotiating process.

The Inquirer's unnamed source said that two finalists will be chosen by the end of the month with the winner selected by the end of the year. The same source said the winning bid will likely exceed $400 million.