How Rupert Murdoch Changed Sports Media Forever
Earvin “Magic” Johnson is looking to add to his growing portfolio of teams.
The NBA legend and entrepreneur is reportedly in talks to acquire a minority stake in the Las Vegas Raiders in a deal that could value the team at $6.5 billion — a record for an NFL franchise.
A potential sale comes after Raiders owner Mark Davis — who inherited the team from his father in 2011 — received an undisclosed offer in August for a stake in the team. Now, Johnson is putting together a group of investors to make their own bid.
- No deal is imminent, as talks could dissolve.
- As of August 2022, the Raiders were valued at $5.1 billion — ninth in the NFL.
The Raiders would be Johnson’s first NFL team investment. In 2012, the five-time NBA Champion was part of Guggenheim Baseball Management’s purchase of the Los Angeles Dodgers for $2 billion.
Johnson also owns an undisclosed stake in his former team — the Los Angeles Lakers. He acquired his stake in 2014 when Guggenheim Partners purchased a 27% stake in the team.
The Hall of Famer also owns part of the WNBA’s Los Angeles Sparks and MLS’ Los Angeles FC.
Trying Again
In June, a group led by Walmart heir Rob Walton purchased the Denver Broncos for $4.65 billion — a new record for NFL franchises. Before that deal, Johnson had teamed up with Philadelphia 76ers co-owner Josh Harris for a separate bid.
