NBA legend Magic Johnson is ‘in talks to buy a stake of Las Vegas Raiders’, as Los Angeles Lakers icon eyes piece of NFL team for potential RECORD-SETTING price
Magic Johnson is reportedly in talks to buy a minority piece of the Las Vegas Raiders, and has been assembling a team of investors in recent weeks to do the deal.
According to Semafor, who reported the news, the price the Lakers legend may wind up paying could be a record-setter among sports deals.
The publication said that a deal is not yet finalized, and cited a source who said the investor group is doing its due diligence with the team.
The franchise is owned by Mark Davis, the son of late owner Al Davis, who died in 2011.
While the report did not name a specific price for the minority stake, Forbes reported in August that Davis had received an offer from an unnamed investor for a minority stake that valued the team at $6.5 billion.
Such an amount would be a record for a pro sports franchise, although Johnson’s connection to the Raiders is not new.
Magic Johnson could be added to his portfolio with a minority stake in the Las Vegas Raiders
The Raiders are currently owned by Mark Davis, who also owns the WNBA’s Las Vegas Aces
The Raiders, led by quarterback Derek Carr, have stumbled out to a 1-4 start to the 2022 season.
As noted by Semafor, Johnson ‘flirted with the idea of investing in a bid to bring the Raiders back to LA,’ a decade ago, although such a move never occurred.
Johnson is also a part-owner of the Los Angeles Dodgers and the WNBA’s Los Angeles Sparks, and was previously involved in a bid for the Denver Broncos earlier this year, according to Sportico.
Widely regarded as one of the greatest basketball players of all time, Johnson was a 12-time All-Star, three-time MVP and five-time Finals champion with the Lakers.
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