NBA icon Magic Johnson has joined a bid to purchase the Denver Broncos, however, it’s unknown how big of a stake Johnson will have in the franchise. The NBA legend is taking advantage of Philadelphia 76ers co-owner Josh Harris’ offer to buy the team.
According to sources, at least five potential purchasers have emerged for the Broncos, including Rob Walton, the oldest son of Walmart founder Sam Walton. Of course, superstar Antonio Brown earlier told that he and Kanye West are “very serious” about taking over the team stating Donda Sports was working like mad to make it happen.
With that stated, the Broncos are presently valued at close to $4 billion, and the sale is projected to be the largest in sports history when everything is said and done. The Pat Bowlen Trust put Denver up for sale in February. Bowlen purchased the team in 1984 and owned it until his death in 2019.
Johnson has extensive ownership experience in major sports franchises. He was one of the investors who bought the Dodgers in 2012, and he also owns the Sparks of the WNBA and the Los Angeles Football Club of Major League Soccer. Following his tremendous career with Purple & Gold, he has become a business mogul. Others in which he has invested include the Lakers, LAFC, Starbucks, Burger King, Square, Cameo, 24-Hour Fitness, etc.
Magic’s engagement would be a positive move for the NFL, which has a significant diversity problem among its owners. According to Forbes, Ye has a net worth of $1.8 billion, whereas Harris’ is estimated to be $5.6 billion. Only one winning bid may be made, and regrettably, for Ye and AB, the chances aren’t on their side.
Between 1980 and 1988, Johnson won five NBA titles with the Los Angeles Lakers, but his career was cut short when he was diagnosed with HIV in 1991. He was a member of the 1992 U.S. basketball “Dream Team” that won the gold medal at the Barcelona Olympics but owing to the stigma surrounding HIV at the time, he did not return to the NBA until 1996. After the 1996 NBA playoffs, Johnson announced his retirement from the league.
