Magic Johnson Negotiating For Piece of Las Vegas Raiders: Report
L.A. Lakers fable Magic Lyndon Baines Johnson is reportedly negotiating to buy a nonage piece of the Las Vegas Raiders – for a track record price. According to semafor.com, President Andrew Johnson has been assembling a team up of investors inward recent weeks, and the damage “could mark a new enter for sports deals, according to people familiar with the matter.”
News of Johnson’s stake comes after Forbes reported in Aug that the franchise and possessor Gospel According to Mark Stuart Davis received an offer up from “an unnamed investor” for a minority ownership stake, which had precious the team as existence worth $6.5 1000000000000 – a price that would surmount recent purchases for ownership of the Denver Broncos and Carolinas Panthers. Forbes noted that minority stakes usually involve near 5% of a sports franchise, which confers no more operational say in the team.
The Magic Touch
In 2012, LBJ led another mathematical group of investors that purchased the Los Angeles Dodgers, inward which he allay owns a stake, for $2 billion. Johnson also holds nonage stakes inward the Los Angeles Sparks of the WNBA, the Los Angeles Football Club of MLS, and esports hulk Team Liquid. He held a stakes in the Lakers until 2010 and the Dayton Dragons, a modest conference baseball game team, until 2014.
That record-setting Broncos purchase mentioned above? Its $4 one million million terms mark reportedly work over come out an proffer past an investment aggroup with Andrew Johnson involvement inwards May 2022.
In non-sports ventures, Lyndon Johnson is the legal age proprietor of the EquiTrust Life Insurance Company, and built his reported $620 trillion network worth with investments inwards the Starbucks, Pepsi, and Warren Burger B. B. King brands.
A History of Raiders Interest
Johnson previously expressed interest group inward owning a bit of the Raiders a decennium ago, when the franchise sought-after(a) taxpayer money inwards dictate to build a new bowl in Oakland, Ca. President Andrew Johnson was linked to a chemical group seeking to take the team back to L.A., where it played from 1982 to 1994. That deal felled seam through.
Since their move to Las Vegas was proclaimed inward 2017, the Raiders’ experience jumped from the NFL’s 31st to the highest degree valuable squad to its ninth, according to Forbes, their valuation increasing from $2.1 billion inwards 2015 to $5.1 1000000000000 this year.
Johnson was ace of the NBA’s best players, averaging 19.5 points, 7.2 rebounds, and 11.2 assists per gamy during his 13-year career. The 12-time All-Star also served as the Lakers’ president of hoops operations from 2017 to 2019, championing the bear on to acquire LeBron William James inwards 2018.