NBA legend Magic Johnson is reportedly deep in negotiations to purchase a stake in the NFL’s Las Vegas Raiders.
via: Uproxx
The former Los Angeles Lakers superstar has ownership stakes in the Los Angeles Dodgers, Los Angeles Sparks, and LAFC, which has led to a few championships getting added to the five NBA titles he won as a player.
A new report indicates that Johnson and a team of investors are eyeing up an NFL team to add to his portfolio. According to Liz Hoffman and Reed Albergotti of Semafor, Johnson is in talks to purchase a stake of the Las Vegas Raiders for “a price that could set a new record for sports deals.”
Johnson has been assembling a team of investors in recent weeks for a minority slice of the Raiders, which is majority owned by the family of the late Al Davis, the people said. One of them said the group was conducting due diligence with the team. A deal hasn’t been finalized and could still fall apart.
The Raiders were previously in Los Angeles from 1982-1994, a period of time that coincided with Johnson suiting up for the Lakers. After returning to their previous home, Oakland, in 1995, the Raiders moved to Vegas ahead of the 2020 campaign. Currently, the franchise’s controlling owner is Al Davis’ son, Mark, while several others have ownership stakes.
It is unclear how large of a stake Johnson would purchase in the team if this goes through. The record amount paid for an American sports team is $4.65 billion, which a group forked over to purchase the Denver Broncos earlier this year.
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