In October 2011, Rubin bought a minority share in the Philadelphia 76ers.[15] Rubin is a member of the investment group that won a $280 million bid for the team. The other members of the investment group include Joshua Harris of the private equity firm Apollo Global Management, portfolio manager Art Wrubel, former Sacramento Kings executive Jason Levien, former Vail Resorts CEO Adam Aron, Martin J. Geller, David B. Heller, Travis Hennings, James Lassiter, David S. Blitzer, Will Smith & Jada Pinkett Smith, and Indonesian businessmen Handy Soetedjo & Erick Thohir.[16][17] Comcast-Spectacor began talks with the investment group in the summer of 2011. The deal was announced on July 13, 2011.[18] The NBA formally approved the deal on October 13, 2011.[19]