Magic Johnson is reportedly pursuing an ownership stake in the Las Vegas Raiders that would set a record valuation for the sports franchise, according to a report by Semafor.
Johnson is leading a group that’s seeking to buy a minority stake in the team, which is owned by the family of the late Al Davis.
Via the report:
“Semafor couldn’t learn the price being discussed, but Forbes reported in August that Raiders owner Mark Davis had received an offer from an unnamed investor for a minority stake that valued the team at $6.5 billion. That would be a record for any professional sports franchise, easily surpassing recent deals for both the NFL’s Denver Broncos and the Premier League’s Chelsea club.”
The former Los Angeles Lakers star is already a part-owner of the MLB’s Los Angeles Dodgers, and has reportedly been “assembling a team of investors in recent weeks” to try and make a bid for a minority slice of the Raiders.
Semafor noted that a deal has yet to be finalized, and talks could still fall apart.
Johnson has long expressed interest in purchasing part of the Raiders, and the deal would continue the tradition of high-valued football franchises.
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Per Axios, there are at least 16 NFL clubs worth at least $4 billion. The highest value in 2022 belongs to the Dallas Cowboys, worth a reported $7.6 billion.
In his 13 NBA seasons, Johnson compiled 17,707 points (19.5 ppg), 6,559 rebounds (7.2 RPG), and 10,141 assists (11.2 APG).
