Is Magic Johnson Trying To Buy The Denver Broncos? Reports Say Yes
Could the NBA Legend, Magic Johnson, be the new owner of our Denver Broncos? He's now apparently entered the bidding war for the team. Here's all we know.
Magic Johnson To Buy Denver Broncos?
Many big names have been thrown around as a possible new owner for our beloved Denver Broncos. From John Elway to Peyton Manning, or even Kanye West. The latest possible candidate? NBA Legend, Magic Johnson. You've likely heard the name Magic Johnson from his legendary run with the Los Angeles Lakers in the 1980s and early 1990s, but do you know his history with professional sports teams as an exec or an owner?
Magic was the president of operations for the Los Angeles Lakers from 2017-to 2019 until stepping down to continue being an ambassador for the NBA, so he has some front office experience. As far as being a team's owner, Magic was a part of the ownership group with Guggenheim Partners and Stan Kasten in a bid for ownership of the Los Angeles Dodgers. They won that bid and Magic and his group paid $2 billion for the baseball club in 2012. At the time they were sold at the highest price to date for a professional sports team. Fast forward to 2022 and he's after the current highest priced professional sports team, the Denver Broncos.
New Denver Broncos Owner
Multiple reports from various sports outlets are reporting that Magic now has now entered the current bidding war for the Denver Broncos. Magic is reportedly joining in a group with the Philadelphia 76ers co-owner, Josh Harris. Magic's net worth is about $600 million, but Josh Harris is worth $4.7 billion so together, they could absolutely make a run at our team.
I personally like Magic as a possible owner. He's extremely competitive and if you look at the LA Dodgers payroll, isn't afraid to spend some money to get his team what they need to win. It's likely we find out in the coming months who are taking control of the team as they narrow down potential owners. Exciting times! Go Broncos.