Thursday December 7, 2023

Magic Johnson Enters Commanders Bidding War

  • Johnson teams with billionaire Josh Harris, like he did with Harris' attempt to buy the Denver Broncos.
  • Exactly when Commanders owner Dan Snyder could pick a winning bidder remains unclear.
Brad Mills-USA TODAY Sports
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Magic Johnson’s addition to billionaire Josh Harris’ bid for the Washington Commanders has ratcheted up the intrigue over what will likely result in a world-record price tag for a sports franchise. 

When a winning bidder will be announced, however, remains a mystery. 

Front Office Sports confirmed Johnson has teamed up with Harris, who owns the Philadelphia 76ers and New Jersey Devils. Fellow billionaire Mitchell Rales was already a part of Harris’ group before Sportico first reported the Laker legend’s addition. 

Between Harris, Rales, and Johnson, the group has a combined estimated net worth of about $12 billion.

Magic was also part of Harris’ bid last year to purchase the Denver Broncos, who ultimately sold to a group headed by Walmart heir Rob Walton for $4.65 billion. 

Beyond Harris’s group, sources told FOS Amazon founder Jeff Bezos and Houston Rockets owner Tilman Fertitta remain in the mix for the team. All the finalists are under confidentiality agreements.

The word “imminent” has been tossed around by various reports in recent days, with many looking toward the NFL owners meetings beginning Sunday in Phoenix as the likely time and venue to announce a deal. 

But there remains no indication for when owner Dan Snyder could select a winning bidder. Snyder hasn’t even actually stated he’s selling the team, although FOS reported previously that the bidders were told Snyder was selling at least a controlling stake of the team, which he purchased for about $800 million in 1999.

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