Report: Magic Johnson ‘in talks’ to buy stake in Las Vegas Raiders at ‘price that could set a new record’

David Akerman
4 Min Read

Although Los Angeles Lakers legend Magic Johnson is best known for what he accomplished in the NBA, he’s a pretty successful businessman as well.

He has a hand in many different companies and even led a group that purchased the Los Angeles Dodgers back in 2012 for $2 billion.

It’s looking like he is trying to expand his empire, as he is reportedly in talks to buy a stake in the Las Vegas Raiders for a record price.

“Former NBA star Magic Johnson is in talks to buy a stake in the National Football League’s Las Vegas Raiders at a price that could set a new record for sports deals, according to people familiar with the matter,” wrote Liz Hoffman and Reed Albergotti of Semafor.

“Johnson has been assembling a team of investors in recent weeks for a minority slice of the Raiders, which is majority owned by the family of the late Al Davis, the people said. One of them said the group was conducting due diligence with the team. A deal hasn’t been finalized and could still fall apart.”

It isn’t the first time Johnson has shown interest in purchasing a stake in an NFL team. Back in May, it was reported that he joined a bid to purchase the Denver Broncos. Johnson was unsuccessful in his pursuit of the team, and the Broncos were eventually sold for over $4 billion.

Not Slowing Down

Ever since retiring from the NBA, Johnson has kept busy. On top of his business ventures, he makes appearances on television as an NBA analyst from time to time. He’s also constantly tweeting out his opinions about a wide variety of topics regarding the league.

The 12-time All-Star even spent some time as the Lakers’ president of basketball operations from 2017 to 2019, spearheading the push to acquire LeBron James back in 2018.

Johnson was one of the best players in the NBA during his time in the league, averaging 19.5 points, 7.2 rebounds and 11.2 assists per game during his storied career. Many believe he is the best point guard to ever play the game of basketball.

The three-time MVP brought excitement and flair to the league at a point when it needed those things the most. His size, skill and vision allowed him to see things that others couldn’t. He’s often referred to as one of the best passers in NBA history.

It’s no surprise that Johnson is interested in purchasing part of the Raiders. After all, they were based in Los Angeles from 1982 to 1994. Johnson was running the show for the Lakers during much of that span, so he was able to get a close look at how successful the Raiders were.

It’ll be interesting to see if Johnson ends up successful in this particular pursuit. One can only wonder how much he’ll have to shell out in order to become an owner of the Raiders.

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David is a University of Maryland graduate who has spent most of his life in Miami. He has experience in writing, editing and video production. He is a proud contributor of Lakers Daily.