Magic Johnson just placed a $6 billion bid to buy the NFL team Washington Commanders – and would become the first Black owner in the league’s history if the deal goes through.
On Tuesday, the Lakers Hall of Famer, alongside 76ers owner Josh Harris and billionaire Mitchell Rales, officially submitted the massive, fully-financed bid to purchase the franchise, according to ESPN’s Adam Schefter.
The Josh Harris/Mitchell Rales group, which nows includes Magic Johnson, officially has submitted a fully-financed bid that meets Dan Snyder’s $6 billion asking price, per source.
— Adam Schefter (@AdamSchefter) March 28, 2023
Magic Johnson’s Group Places Historic, Potentially Record-Breaking Bid For NFL Team On Tuesday
Current owner Dan Snyder announced in November that he plans to sell the Commanders following investigations into his personal conduct.
The team reportedly expects that a sale of the team could reach a price as high as $6 billion, per Bleacher Report, meaning the stars are seemingly aligned for Johnson and his group to make the historic and record-breaking purchase.
Johnson would become the first Black NFL team owner in the league’s history should the bid be accepted.
As of now, the NFL’s only minority owners are Shahid Khan of the Jacksonville Jaguars and Kim Pegula of the Buffalo Bills. Khan was born in Pakistan and moved to the United States at age 16.
The Josh Harris/Mitchell Rales group, which includes Magic Johnson, has OFFICIALLY submitted a fully-financed bid that meets Dan Snyder’s $6B asking price for the Washington Commanders, per @AdamSchefter. pic.twitter.com/zK90eCfJVS
— ClutchPoints (@ClutchPointsApp) March 28, 2023
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Johnson Faces Steep Competition For Purchase Of Washington Commanders
Magic isn’t the only high-profile figure to express interest in buying the Commanders, as Amazon head Jeff Bezos and rap mogul Jay-Z had met with Snyder back in November to discuss a possible purchase plan for the team.
Canadian billionaire Steve Apostolopoulos and Houston Rockets owner Tilman Fertitta are among other names who have shown interest in buying the Commanders, formerly known as the Washington Redskins.
Should the team be sold to Johnson’s group, the $6 billion deal would break the record for a sale of an NFL franchise which was set last summer when billionaire Rob Walton purchased the Denver Broncos for $4.65 billion, according to TMZ.
The potential purchase would add to Johnson’s already impressive portfolio, which also includes ownership stakes in the Los Angeles Dodgers, L.A. Football Club, and the WNBA team L.A. Sparks.