Los Angeles Lakers legend Magic Johnson is in talks to buy a minority stake in the Las Vegas Raiders, according to a report by Semafor. Johnson reportedly assembled a team of investors who conducted their due diligence with the team, and the purchase price could end up setting a new record for such deals.
The report of Johnson’s interest in owning part of the Raiders comes after a Forbes report in August said the franchise and owner Mark Davis had received an offer from an anonymous investor for a minority stake, which had valued the team at $6.5 billion. – a price that would exceed recent purchases for the ownership of the Denver Broncos and Carolina Panthers.
Semafor noted that a deal has yet to be finalized and talks could still fall apart.
If Johnson’s interest in becoming a minority owner of the Raiders were to become a reality, the Silver & Black would become the latest element of a business empire he has built since his incomparable NBA career. Johnson’s company, Magic Johnson Enterprises, currently owns a stake in Major League Baseball’s Los Angeles Dodgers as well as other major national brands like Burger King and Starbucks.
Johnson previously expressed interest in a stake in the Raiders a decade ago when the franchise was seeking taxpayer money to build a new stadium at its original home in Oakland, Calif. Johnson had been linked with a potential investment to bring the franchise to Los Angeles – where she played throughout the 1980s – but such a deal never materialized.
