Commanders on the Verge of $6 Billion Acquisition as Magic Johnson-Led Consortium Makes Bid
Commanders on the Verge of having new ownership with a bid from a consortium led by Magic Johnson to acquire for $6 billion
On Tuesday, a $6 billion offer to purchase the franchise was formally presented by Lakers’ Hall of Famer, along with Josh Harris, the 76ers owner, and Mitchell Rales, the billionaire. This news, reported by ESPN’s Adam Schefter, is significant because the current owner, Snyder, had previously indicated his desire to sell the Commanders and was rumored to be seeking a $6 billion asking price.
As a result, the Johnson/Harris/Rales consortium’s offer may result in the sale of the team in the near future.
Reportedly, other potential buyers for the Washington football franchise included Tilman Fertitta, the owner of the Houston Rockets, and Canadian billionaire Steve Apostolopoulos.
Should the Commanders sell, the $6 billion purchase price would exceed the previous record sale for an NFL team, which was set last summer when billionaire Rob Walton bought the Denver Broncos for $4.65 billion.
Earvin “Magic” Johnson Jr. is a retired professional basketball player and one of the most accomplished athletes in sports history. He was a member of the Los Angeles Lakers for 13 seasons, where he won five NBA championships, three NBA Finals MVP awards, and three regular-season MVP awards.
Johnson was known for his versatility on the court, as he played multiple positions and could score, rebound, and distribute the ball with equal proficiency.
After retiring from basketball, he became an entrepreneur, philanthropist, and advocate for HIV/AIDS awareness. He has also been a sports analyst, commentator, and coach. Johnson is widely regarded as one of the greatest basketball players of all time and a cultural icon in the sports world.
For Johnson, this would be another remarkable addition to his already impressive business portfolio, which includes ownership stakes in the Los Angeles Dodgers, L.A. Sparks, and Los Angeles Football Club.
