Sunday October 1, 2023

Magic Johnson Part of Group Seeking to Purchase Broncos

  • Johnson joins group led by Philadelphia 76ers co-owner Josh Harris that is bidding on team.
  • Five-time NBA champ already owns pieces of MLB, MLS and WNBA teams.
Kyle Terada-USA TODAY Sports
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Earvin “Magic” Johnson is in the running to own a piece of the Denver Broncos.

The NBA Hall of Famer and entrepreneur has linked up with Philadelphia 76ers co-owner Josh Harris, head of one of at least five bidding groups, a source with knowledge of the situation confirmed to Front Office Sports. 

Sportico was the first outlet to report Johnson’s involvement with Harris’ effort.

Johnson, 62, is the latest and highest-profile Black businessman to be connected to the Broncos’ bidding process, which is expected to result in a record sale price of around $4 billion or more. Billionaire investor Robert F. Smith and media magnate Byron Allen have also explored bids. 

The Broncos declined to comment. 

Magic’s Empire 

Johnson owns stakes in multiple sports teams and other businesses.    

  • He was part of Guggenheim Baseball Management’s purchase of the Los Angeles Dodgers in 2012. The Dodgers are now valued at $4 billion. The group acquired the Sparks in 2014. 
  • Johnson owns an undisclosed stake in the Los Angeles Lakers, a piece acquired when the Guggenheim group purchased 27% of the team Johnson led to five NBA championships. Johnson also owns part of the Los Angeles Football Club.
  • Johnson’s docuseries, “They Call Me Magic,” debuted on AppleTV+ last month. It was reportedly shopped for $25 million.

NFL commissioner Roger Goodell said before Super Bowl LVI that the league “would love to see a diverse owner.” Underrepresented minorities are part of multiple bidding groups, a source told FOS. 

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