Oct 21, 2022 - Sports
NBA Hall of Famer Magic Johnson eyes NFL ownership
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Magic Johnson attends a football event with then-L.A. Mayor Antonio Villaraigosa (center) and boxer Oscar De La Hoya (left) in L.A. in 2011. Photo: Kevork Djansezian/Getty Images
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.
