Magic Johnson is a legend in the basketball community. During his prime, the Lakers’ star worked wonders on the court. He also wants to buy stake in The Raiders.
According to a report from Semafor, Magic Johnson wants to purchase a stake in the Raiders. The ownership stake that Johnson is pursuing would up setting a record valuation for the sports franchise.
In fact, Johnson is leading a group that’s seeking a minority stake in the Raiders. For reference, owner Mark Davis received an offer for a minority stake in the team that placed the enterprise value of the full Las Vegas franchise at $6.5 billion
Johnson’s pursuit of an NFL franchise aligns with his business interests over the last 30 years since he retired from the NBA. He even wanted to purchase the Denver Broncos once as well.
Obviously, Magic has a lot of money to spare, and he might just drop a ton on this big investment. We’ll have to see if he does purchase a stake in the Raiders or not.
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