Los Angeles Lakers legend Magic Johnson could be on the verge of owning another professional sports franchise. Johnson is reportedly setting his sights on the NFL and the Denver Broncos.
According to Sportico, Johnson is among those bidding for ownership of the Broncos franchise and is joined by Philadelphia 76ers co-owner Josh Harris.
EXCLUSIVE: Earvin @MagicJohnson is entering the bidding for the Denver Broncos
He has joined the bid group being led by Philadelphia 76ers co-owner Josh Harris pic.twitter.com/SPCVFyrKjY
— Sportico (@Sportico) May 5, 2022
During his Hall of Fame career as a player, Johnson helped lead the Lakers to five NBA titles while turning the league into one of the most popular professional sports in the world.
Although Johnson’s playing career didn’t end the way he anticipated after being diagnosed with HIV, his success wasn’t limited to the hardwood and suiting up for the Lakers.
Magic has been arguably just as successful off the court as he was on it. He has become a prominent businessman with numerous businesses and a part-owner of the Los Angeles Dodgers, L.A. Sparks and LAFC.
As for the Broncos, the storied NFL franchise has been a hot commodity since it was put up for sale. The three-time Super Bowl champions will go for a hefty sum that will likely make history via Sportico.
The Broncos are expected to set a record for the highest price ever paid for a sports franchise, topping the $3.3 billion that Joe Tsai paid for the Brooklyn Nets and the rights to operate the Barclays Center in a deal completed in 2019. Sportico recently valued the team at $3.8 billion.
If Johnson is part of the group that buys the Broncos, he’ll have ownership stakes in the NFL, MLB, MLS and WNBA. It’ll likely be only a matter of time before he owns an NBA team as well.
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