By: Economic & Finance Report
It has been reported that Magic Johnson is in deep negotiations with the Las Vegas Raiders front office, for a commendable investment stake in the NFL franchise. The stake is being regarded as “record breaking” for sports franchises; even though his stake would be of minority ownership.
Magic Johnson considered one of the greatest point guards and athletes in basketball, has invested in various sports endeavors and teams, such as being part owner of the MLB’s LA Dodgers. His offer for a minority ownership of the Raiders, would value the NFL Las Vegas franchise at $6.5 billion USD. Magic has had interest in the past in purchasing the Vegas franchise; so it not unusual for him and his partners to go at it again with preferable circumstances.
The $6.5 billion valuation places the Las Vegas Raider as the second most valued team in the NFL; after the Dallas Cowboys, which is valued at $7.6 billion. The lowest valued team (by cost in 2022) in the NFL, is the Cincinnati Bengals but they are still at least worth approx. $2.8 billion. -SB
Image Source: Twitter @MagicJohnson
Magic Johnson reportedly in talks to purchase record-breaking stake in NFL franchise (yahoo.com)