NBA legend Magic Johnson ‘in talks to buy a stake of Las Vegas Raiders’
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NBA legend Magic Johnson is ‘in talks to buy a share of Las Vegas Raiders’ as Los Angeles Lakers icon sees part of NFL team up for possible RECORD-SETTING prize
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Magic Johnson is reportedly in talks to buy a minority stake in the Las Vegas Raiders and has assembled a team of investors in recent weeks to close the deal.
According to Semaphorwho reported the news, the price the Lakers legend ends up paying could be a record among sports deals.
The publication said a deal has not yet been finalized and quoted a source as saying the investor group is doing its due diligence with the team.
The franchise is owned by Mark Davis, the son of the late owner Al Davis, who passed away in 2011.
While the report did not mention a specific price for the minority interest, Forbes reported in August that Davis had received an offer from an undisclosed investor for a minority stake that valued the team at $6.5 billion.
Such an amount would be a record for a professional sports franchise, although Johnson’s connection to the Raiders is not new.
Magic Johnson could expand his portfolio with a minority stake in the Las Vegas Raiders
The Raiders are currently owned by Mark Davis, who also owns the WNBA’s Las Vegas Aces
The Raiders, led by quarterback Derek Carr, have booked a 1-4 start to the 2022 season
As Semafor noted, ten years ago Johnson flirted with the idea of investing in an effort to bring the Raiders back to LA, though such a move never happened.
Johnson also co-owns the WNBA’s Los Angeles Dodgers and Los Angeles Sparks, and was involved in a bid for the Denver Broncos earlier this year, according to Sporty.
Widely regarded as one of the greatest basketball players of all time, Johnson was a 12-time All-Star, three-time MVP and five-time Lakers Finals champion.