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Magic Johnson Wants to Buy Stake in NFL’s Raiders, per Report
NBA legend Magic Johnson is interested in buying a stake of the Raiders, according to a report from Semafor.
The ownership stake that Johnson is pursuing would reportedly set a record valuation for the sports franchise. Johnson is leading a group that’s seeking a minority stake in the Raiders.
For context, 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, Forbes reported in August.
Johnson’s pursuit of an NFL franchise aligns with his business interests over the last 30 years since his NBA retirement.
His firm, Magic Johnson Enterprises, already owns a stake in the Dodgers, as well as Burger King and Starbucks in the restaurant industry.
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For more Las Vegas Raiders coverage, go to Raider Maven.
Mike McDaniel is a staff writer on the Breaking and Trending News team at Sports Illustrated, where he has worked since January 2022. His work has been featured at InsideTheACC.com, SB Nation, FanSided and more. McDaniel hosts the Hokie Hangover Podcast, covering Virginia Tech athletics, as well as Basketball Conference: The ACC Football Podcast. Outside of work, he is a husband and father, and an avid golfer.