Magic Johnson part of package deal to buy Denver Broncos | Denver Broncos
NBA legend Magic Johnson has reportedly joined a group led by Philadelphia 76ers and Flyers owner Josh Harris in a bid to buy the Denver Broncos.
Sportico reported on Thursday that Johnson would be part of Harris’ bid, along with up to six other people likely to be potential stakeholders.
Johnson, who is a member of the Los Angeles Dodgers ownership group, is one of many recognizable names who have decided to enter the high-stakes race for the NFL franchise, which officially went on sale in early February.
Harris is the majority owner of the 76ers and the primary owner and manager of the Flyers. Harris co-founded Apollo Global Management, a global investment firm, and is a general partner at Premier League club Crystal Palace. In July 2021, his net worth was estimated at over $7.5 billion by Bloomberg.
Competition is expected to be fierce to buy the Broncos from the Pat Bowlen family estate.
At the NFL’s annual meetings in March, Broncos president and CEO Joe Ellis said a new owner could be in place by the start of the season in September. Although he could not reveal the names of the potential suitors, he said there was “really significant interest” and “a number” of very qualified buyers.
S Robson “Rob” Walton is another favorite to buy the Broncos. Walton, 77, is the eldest son of Walmart founder Sam Walton and is worth $70.8 billion, Forbes said. This net worth makes him the 19th richest person in the world.
In its annual valuation of NFL teams, Forbes pegged the Broncos’ 2021 value at $3.75 billion, though the sale price is expected to exceed that amount.