{"id":239078,"date":"2022-10-24T11:43:24","date_gmt":"2022-10-24T16:43:24","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=239078"},"modified":"2022-10-24T12:37:57","modified_gmt":"2022-10-24T17:37:57","slug":"magic-johnson-negotiating-for-piece-of-las-vegas-raiders-report","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/magic-johnson-negotiating-for-piece-of-las-vegas-raiders-report\/","title":{"rendered":"Magic Johnson Negotiating for Piece of Las Vegas Raiders: Report"},"content":{"rendered":"

Los Angeles Lakers legend Magic Johnson is reportedly negotiating to buy a minority piece of the Las Vegas Raiders \u2013 for a record price. According to semafor.com,<\/em> Johnson has been assembling a team of investors in recent weeks, and the price \u201ccould set a new record for sports deals, according to people familiar with the matter.\u201d<\/p>\n

\"Magic
Magic Johnson already holds part ownership in MLB’s LA Dodgers, the WNBA’s LA Sparks, the MLS’ Los Angeles Football Club, and eSports giant Team Liquid. The NBA legend reportedly wants to add the Las Vegas Raiders to that list. (Image: Getty)<\/figcaption><\/figure>\n

News of Johnson’s interest comes after Forbes <\/em>reported in August that the franchise and owner Mark Davis received an offer from \u201can unnamed investor\u201d for a minority ownership stake, which had valued the team as being worth $6.5 billion \u2013 a price that would surpass recent purchases for ownership of the Denver Broncos and Carolina Panthers.<\/p>\n

Forbes<\/em> noted that minority stakes usually involve about 5% of a sports franchise, which confers no operational say in the team.<\/p>\n

The Magic Touch<\/h2>\n

In 2012, Johnson led a group of investors that purchased the Los Angeles Dodgers, in which he still owns a stake, for $2 billion. Johnson also holds minority stakes in the Los Angeles Sparks of the WNBA, the Los Angeles Football Club of MLS, and esports giant Team Liquid. He held a stake in the Lakers until 2010 and in the Dayton Dragons, a minor league baseball team, until 2014.<\/p>\n

That record-setting Broncos purchase mentioned above? Its $4 billion price tag reportedly beat out an offer by an investment group with Johnson’s involvement in May 2022.<\/strong><\/p>\n

In non-sports ventures, Johnson is the majority owner of the EquiTrust Life Insurance Company, and built his reported $620 million net worth with investments in the Starbucks, Pepsi, and Burger King brands.<\/p>\n

A History of Raiders Interest<\/h2>\n

Johnson previously expressed interest in owning a piece of the Raiders a decade ago when the franchise sought taxpayer money in order to build a new stadium in Oakland, Calif. Johnson was linked to a group seeking to bring the team back to LA, where it played from 1982 to 1994. That deal fell through.<\/p>\n

\n

Since their move to Las Vegas was announced in 2017, the Raiders jumped from the NFL\u2019s 31st- most valuable team to its ninth. According to Forbes,<\/em> their valuation increased from $2.1 billion in 2015 to $5.1 billion this year.<\/p>\n<\/div>\n

Johnson was one of the NBA\u2019s best players, averaging 19.5 points, 7.2 rebounds, and 11.2 assists per game during his\u00a0 13-year career. The 12-time All-Star also served as the Lakers\u2019 president of basketball operations from 2017 to 2019, championing the push to acquire LeBron James in 2018.<\/p>\n","protected":false},"excerpt":{"rendered":"

Los Angeles Lakers legend Magic Johnson is reportedly negotiating to buy a minority piece of the Las Vegas Raiders \u2013 for a record price. According to semafor.com, Johnson has been assembling a team of investors in recent weeks, and the price \u201ccould set a new record for sports deals, according to people familiar with the […]<\/p>\n","protected":false},"author":78,"featured_media":239079,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[81886,83079,82961],"tags":[81727,83409,81004,83410],"acf":[],"yoast_head":"\nMagic Johnson Negotiating for Piece of Las Vegas Raiders: Report - Casino.org<\/title>\n<meta name=\"description\" content=\"Los Angeles Lakers legend Magic Johnson is reportedly negotiating to buy a minority piece of the Las Vegas Raiders \u2013 for a record price. 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