NFL Rumors: Lakers Icon Magic Johnson Joins Commanders Ownership Bid
Los Angeles Lakers legend Magic Johnson has reportedly entered the bidding for the Washington Commanders.
Johnson has joined the group headed by Philadelphia 76ers and New Jersey Devils managing partner Josh Harris, according to Sportico's Scott Soshnick and Eben Novy-Williams.
This isn't the first time Johnson and Harris have teamed up. The two formed a bidding group for the Denver Broncos before the team was sold to the Walton-Penner family, led by Walmart heir Rob Walton, in August.
Johnson is "providing both money and expertise to the Commanders bid," according to Sportico. It's unclear how much capital Johnson is contributing.
Since retiring from the NBA in 1996, Johnson has been involved in several business ventures. He joined the successful bidding group for the Los Angeles Dodgers in 2011 and invested in the WNBA's Los Angeles Sparks and MLS' LAFC.
Additionally, Johnson "has franchised movie theaters, Starbucks stores, fast food and gyms," according to Sportico.
Harris, the managing partner of the 76ers and co-managing partner of the Devils, has a stake in Premier League side Crystal Palace. He also owns the Prudential Center, where the Devils play.
Danaher co-founder Mitchell Rales is also among those in Harris' bidding group for the Commanders, per Sportico. Harris has a net worth of $5.7 billion, per Forbes, and Rales has a net worth of $5.5 billion.
The Commanders are expected to be sold this offseason after owners Daniel and Tanya Snyder hired Bank of America to consider a transaction in November amid investigations into an alleged toxic workplace environment and financial improprieties.
The Snyders "cleared out of the team's facility in advance of the sale of the team," Pro Football Talk's Mike Florio reported March 16.
Daniel Snyder purchased the Commanders for $800 million in 1999. The team is now valued at $5.6 billion, according to Forbes.
