Lakers Legend
Naismith Basketball Hall of Famer, Los Angeles Lakers legend and entrepreneur Magic Johnson is in talks to buy a stake in the Las Vegas Raiders, per Semafor’s Liz Reed:
“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.”
Lakers Legend
Forbes‘ Mike Ozanian reported in August that the Raiders were valued at $6.5 billion in an offer for a minority stake in the team.
Johnson has been a part-owner of the Los Angeles Dodgers since 2012. He also reportedly looked to buy a stake in the Denver Broncos and joined a group led by Philadelphia 76ers managing partner Josh Harris, but the team was eventually sold to the Walton-Penner Family Ownership Group.
Johnson bought a 4.5 percent share in the Lakers in 1994 but sold it 16 years later.
The Raiders have been under the ownership of the Davis family since 1966. Al Davis was a part owner from 1966-1971 before becoming the principal owner in 1972 until his death in 2011. Davis’ son, Mark, has led the team for the past decade.
