NBA legend Magic Johnson speaks out for the first time on his ‘exciting’ bid to buy Washington Commanders alongside 76ers owner Josh Harris: ‘We hope we win…let’s see what happens with Mr. Snyder’
NBA legend Magic Johnson has shed light for the first time on his joint bid to buy the Washington Commanders with Philadelphia 76ers owner Josh Harris, describing the whole process as “exciting.”
The basketball Hall of Famer, who has become a prominent executive through several sports ownership groups with stakes in Major League Baseball’s LA Dodgers, Major League Soccer’s LAFC and the WNBA’s Los Angeles Sparks, spoke to USA Today on Tuesday while visiting New York City. .
‘Yes, our offer has been received. We hope we win… we don’t know what’s going to happen,” the LA Lakers legend said when asked by Al Roker about the progress of negotiations to buy the NFL franchise from the controversial owner. , Dan Snyder.
The Commanders are worth an estimated $5.6 billion, according to Forbes, and are expected to sell for more than the Denver Broncos, who bought a group led by Walmart heir Rob Walton for a record $4.65 billion.
Magic was part of Harris’ failed bid to buy the Broncos in June 2022.
Basketball Hall of Famer Magic Johnson, 63, spoke about his Commanders bid from New York City
Philadelphia 76ers co-owner Josh Harris is looking to buy an NFL franchise after losing to a group led by Walmart heir Rob Walton in June that bought the Denver Broncos for a record $4.65 billion
“We’ll see what happens when Mr. Snyder makes that decision, so… but we’re excited about it,” the five-time NBA champion added, revealing that he and his wife, Cookie, “love sports.”
Harris, along with partner David Blitzer, owns the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils since 2011 and 2013, respectively. He bought the NBA team for $280 million and the NHL franchise for $320 million at the time.
In 2015, Harris bought an 18 percent stake in English Premier League club Crystal Palace. The club is run in a general partnership consisting of himself, Blitzer and English businessman Steve Parish.
Washington area billionaire Mitchell Rales is also reportedly part of Harris’s group bidding for the commanders.
Amid multiple investigations into workplace behavior and potential financial improprieties, Snyder and his wife, Tanya, began investigating the sale of part or all of the team in the fall.
Commander co-owners Dan and Tanya Snyder want to sell the franchise for a hefty $5.6 billion
Jeff Bezos was supposed to be in the running to buy the Commanders, but Snyder opposes the Amazon CEO buying the franchise because of the team’s bad press in The Washington Post
Any sale would have to be approved by three-quarters of NFL owners, who “remain uncertain” whether Snyder will actually sell the DC-based franchise, and declined to vote to force a deal amid rumors of interest from Jeff Bezos and the Houston Rockets owner. , Tilman Fertitta.
However, Snyder is said to be against the Amazon CEO’s purchase of the franchise due to the team’s bad press in The Washington Post.
Snyder’s ownership has been a hot-button issue for years as several employees spoke out about workplace harassment, leading to a competition investigation and a $10 million fine.
When a written report of Beth Wilkinson’s investigation was not produced, the US House Committee on Oversight and Reform initiated its own assessment of the situation, which included a referral to the Federal Trade Commission.
The league has brought in former U.S. attorney Mary Jo White to investigate, and that investigation is ongoing. At a league meeting in October, Indianapolis Colts owner Jim Irsay said it was “deserved” to remove Snyder — who then hired Bank of America Securities two weeks later.