NBA Rumors: 5x NBA champion and LA Lakers great enters bidding war for NFL franchise Denver Broncos
Since his playing days with the Lakers ended, Hall of Fame point guard Magic Johnson has done well for himself. Along with being a semi-regular guest on ESPN, Johnson has also stayed in the sports world as an investor.
Back in 2019, the Lakers legend joined a group of buyers to become a part-owner of the LA Dodgers. Based on recent news, it appears Johnson wants to dabble in another professional sport.
Reports surfaced Thursday afternoon that Johnson has thrown his name in the hat to purchase the Denver Broncos. Not a bad investment following the team's blockbuster trade to acquire Super Bowl-winning quarterback Russell Wilson.
The sale of the Broncos is on pace to set a new record for price paid for a professional sports team.
BREAKING: Magic Johnson has entered the bidding for the Denver Broncos and will join the group being led by Philadelphia 76ers co-owner Josh Harris.
The team is expected to sell for ~$4 billion, a new record for the highest price ever paid for a sports team.
(h/t @Sportico) https://t.co/6kAQfMS4in
Their 7-10 record might not seem that glamorous, but the Broncos are on the come up.
Led by Wilson, they should be a key team to watch in the AFC this upcoming season. The only potential roadblock is that they share a division with Patrick Mahomes and the Kansas City Chiefs.
Will Magic Johnson Ever Seek Ownership of The Lakers?
Pretty soon, Magic Johnson could be a part-owner of both an MLB and NFL franchise. This begs the question of whether he will ever seek an ownership position in the NBA.
Given his interest in business ventures, it seems shocking Johnson hasn't attempted something like this yet. As one of the game's greatest players who is still loved league-wide, pulling off a sale like this should be relatively easy.
If Johnson were to ever become an owner in the NBA, the Lakers make the most sense.
He played 13 seasons for the franchise, won five championships, and was a special advisor for some time. Johnson still claims he played a key role in LeBron James signing with the Lakers four years ago.
From a team perspective, having Johnson as an owner, even in a small capacity, could be extremely beneficial. He is still very connected and has relationships with some of the game's biggest names. Not to mention he has a lot to provide as a mentor as well.
Given his fallout with the Buss family, it seems unlikely Johnson would join the Lakers' ownership group. At least for the time being.
Magic Johnson shocks - well, everyone - and announces he’s stepping down as president of the Lakers. Says he’s not yet spoken to Jeanie Buss to tell her. Says he’s sick of tampering rules, he’s tired of the “backstabbing” & says he didn’t want to disappoint Jeanie by firing Luke. https://t.co/m50VKQmmDR
In terms of being a businessman off the court, Johnson deserves some more credit. Similar to LeBron James and Michael Jordan, he has multiple successful ventures away from the game of basketball.