Magic Johnson is no stranger to ownership.
As a successful businessman, Johnson’s empire includes movie theaters, Starbucks and Burger King franchises and ownership of professional franchises such as the Los Angeles Sparks and the LA Dodgers.
Now Magic appears to have his sights set on the biggest prize in professional team ownership in North America- NFL team ownership.
According to Liz Hoffman of Semafor, Johnson is in talks with the Las Vegas Raiders to buy a stake in the club that could “set a new record for sports deals.”
Apparently, Magic has been assembling an investor team that would purchase a minority stake in the Vegas-based club at a substantial, yet undisclosed, valuation.
The most recent NFL team purchase was made by Walmart heir Rob Walton, who bought the Denver Broncos this past June for a record-setting price of $4.65 billion.
The price wasn’t the only history-making part of the deal though.
One of the members of the ownership group was Mellody Hobson, one of the most successful businesswomen and executives around. By joining the group, Hobson became the first Black woman NFL owner in league history.
This content has been brought to you by First and Pen in partnership with TheHub.News. First and Pen “amplifies local sports stories from voices of color to the national conscience…”