Magic Johnson has joined a group of investors who are trying to buy the Denver Broncos NFL team. The billionaire is part of a group led by billionaire Josh Harris. It is not clear how much Johnson will contribute to the bid. The sale of the team is estimated to be worth $3.8 billion. The sale may break a record for the most money ever spent on a sports franchise. Alibaba co-founder Joe Tsai paid $3.3 billion for the Brooklyn Nets in 2019.
The Raiders are currently owned by the family of the late Al Davis. Johnson is interested in purchasing a minority stake in the team. However, the team’s current ownership group does not want to sell the team to Johnson. It has turned down previous bids from Johnson. While it is possible for Magic Johnson to buy a majority stake in the team, it is unclear whether he will be able to make a deal.
In the past, he was part of the group that bought the Los Angeles Dodgers for $2 billion in 2012. That sale broke the record for the most expensive sports team ever sold. Magic Johnson later became part of the group that founded the Los Angeles Football Club, an expansion franchise in Major League Soccer. As a basketball player, Johnson won five NBA championships with the Los Angeles Lakers, where he served as the president of basketball operations.
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