NBA news: The former Lakers guard is now a part-owner of the Los Angeles Dodgers and the Sparks of the WNBA. Read the article for this NBA News.
During his storied tenure with the Lakers, Magic Johnson made incredible assists appear regular. Now, the Hall of Fame point guard wants to accomplish the same thing with sports ownership. According to Sportico, Johnson has teamed up with Philadelphia 76ers co-owner Josh Harris to bid for the Denver Broncos.
The Broncos were placed up for sale earlier this offseason by the Bowlen family, who had owned the franchise for 38 years.
Johnson, 62, is a part-owner of the Los Angeles Dodgers of Major League Baseball and the Los Angeles Sparks of the Women’s National Basketball Association. In 2020, the Dodgers snapped a 30-year World Series drought under Johnson’s leadership. Johnson had witnessed the Sparks win their third title, and first since 2002, four years prior.
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Johnson also served as the Lakers’ president of basketball operations for two years. Before the Lakers won the NBA title in 2020, he assisted in the recruitment of LeBron James. The Broncos were appraised at $3.75 billion by Forbes in August, indicating that the franchise may sell for more than $4 billion.
The Pat Bowlen estate put the Broncos up for sale on Feb. 1. According to Joe Ellis, the team’s president, and CEO. He also stated that by the start of the 2022 NFL season, new ownership will be in place.
NBA News: Sportico reports up to six others would join Johnson and Harris as potential stakeholders
The Broncos were valued at $3.75 billion by Forbes in 2021, ranking 10th among NFL franchises. A sale would very certainly fetch far more than that estimate.
In a statement earlier this offseason, Broncos president and CEO Joe Ellis said, “Selling an NFL club is a difficult process involving several parties and league approval procedures.” “Despite this, the trustees intend to finalize the sale before the start of the 2022 NFL season.”
“The Broncos are a unique franchise that is woven into the fabric of this city. And whoever emerges as the new owner will undoubtedly appreciate what the club means to our devoted fans and our community.”
The Broncos have had a hectic offseason, what with the franchise’s probable sale. Former Packers offensive coordinator Nathaniel Hackett was hired as the team’s next head coach.
The Broncos then made one of the greatest offseason moves by acquiring quarterback Russell Wilson. He helped the Seahawks win their first Super Bowl triumph in 2013.
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