Magic Johnson reportedly joins Commanders possession bid

Magic Johnson has joined Josh Harris’ bid to purchase the NFL’s Washington Commanders, in keeping with stories from Sportico and The Related Press.

Johnson, a basketball Corridor of Famer and five-time NBA champion with the Los Angeles Lakers who then grew to become a outstanding govt, is already concerned in sports activities possession with stakes in Major League Baseball’s Los Angeles Dodgers, Major League Soccer’s Los Angeles F.C. and the WNBA’s Los Angeles Sparks. He was additionally a part of Harris’ unsuccessful bid to purchase the Denver Broncos, who had been as an alternative bought to a bunch led by Walmart inheritor Rob Walton for a document $4.65 billion.

The Commanders are anticipated to promote for extra, which might be the best worth paid for a North American skilled sports activities franchise. Forbes estimates the staff is price $5.6 billion.

Harris together with associate David Blitzer owns the NBA’s Philadelphia 76ers and NHL’s New Jersey Devils. Washington-area billionaire Mitchell Rales can be reportedly a part of Harris’ group.

Amid a number of investigations into office conduct and potential monetary improprieties, longtime proprietor Dan Snyder and spouse Tanya started exploring promoting half or all the staff within the fall. Any sale would have to be authorised by three-quarters of NFL house owners, which may occur at their upcoming assembly in Arizona.

Snyder’s possession has been a hot-button problem for years, since a number of staff got here out about office harassment, which prompted a league investigation and a $10 million wonderful. When no written report of Beth Wilkinson’s investigation was produced, the U.S. Home Committee on Oversight and Reform launched its personal evaluate of the state of affairs, which included a referral to the Federal Commerce Fee.

The league retained former U.S. Legal professional Mary Jo White to analyze, and that probe is ongoing. At a league assembly in October, Indianapolis Colts proprietor Jim Irsay mentioned there was “advantage to take away” Snyder — who then employed Financial institution of America Securities two weeks later.

The Related Press contributed to this report.

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