Magic Johnson is not only one of the greatest NBA players of all time but also one of the smartest former athletes. The Los Angeles Lakers legend learned from his mistakes and made sure to make the most out of life, becoming a successful businessman, and one of the richest retired athletes ever.
Being part-owner of the Los Angeles Dodgers doesn't seem to be enough for Magic and he's ready to get his hands on a different franchise in a different league. According to Sportico, Johnson joined forces with Philadelphia 76ers co-owner Josh Harris to try to buy the Denver Broncos of the NFL.
This would be huge for Magic, as he could add another professional team to his portfolio. The 5x NBA champion has mastered this art and you just love to see it. Johnson becoming a part-owner in the NFL would be huge for the league.
Earvin “Magic” Johnson is entering the bidding for the Denver Broncos, according to someone familiar with the move.
The former NBA star has joined the bid group being led by Philadelphia 76ers co-owner Josh Harris, according to the person, who was granted anonymity because the details are private. Adding a high-profile African American investor, one of Johnson’s stature no less, could help make the group more attractive as bidding intensifies in the coming weeks and months.
The NFL has faced increased pressure over the lack of diversity in its ownership ranks, and every Broncos bid group is expected to have minority investors. That’s difficult to require in an estate sale, where the trustees have a fiduciary obligation to sell to the highest qualified bidder, but commissioner Roger Goodell recently said he believed the process could achieve both goals.
It’s unclear how much capital Johnson is contributing to the bid group. Johnson didn’t immediately return a request for comment. Representatives for the Broncos, Harris, and Allen & Company, which was retained to sell the team, all declined to comment.
This isn't a done deal yet, but Magic and his group are advancing towards the goal. We have to wait and see if they can take over a franchise that has a terrific roster and recently traded for one of the best QBs in the league, Russell Wilson.