Oct 22, 2022 - Sports
NBA Hall of Famer Magic Johnson eyes NFL ownership
NBA Hall of Famer Magic Johnson is reportedly pursuing an ownership stake in the NFL's Las Vegas Raiders that would set a record valuation for the sports franchise, Semafor reports.
Why it matters: NFL franchises are some of the most valuable assets in the world. 16 NFL franchises are worth at least $4 billion, compared to four MLB teams and three in the NBA.
- Johnson is leading a group that's seeking to buy a minority stake in the team, owned by the family of the late Al Davis.
- The Raiders have received a minority stake offer that valued the team at $6.5 billion, Forbes reported this summer.