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.
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.