Magic Johnson Enters Bidding To Buy Denver Broncos

Magic Johnson has dabbled in his share of ownership stakes. He was an architect of the Los Angeles Lakers snagging LeBron James in free agency. Magic also has a majority stake in the Los Angeles Dodgers. As if that was not enough, he also owns the WNBA team, the Los Angeles Sparks. They have also won a title under his ownership. Johnson also has ownership in a soccer team. However, he could be extending his reach into the NFL soon enough.

Magic Johnson Looking to Buy Denver Broncos

The Denver Broncos have been in dire need of new ownership for years now. With Pat Bowlen now gone (may he rest in peace), the Bowlen family has not seen eye to eye on who should be the new owner of the franchise. As a result, the best course of action was to put the team up for sale. Since then, many interesting parties have entered the conversation on possibly buying the three-time Super Bowl winning team.

Magic’s camp has others as well. Part of his camp includes the Philadelphia 76ers’ co-owner, Josh Harris. Denver fans seem to have mixed feelings on a former Los Angeles Laker possibly owning the Broncos. Some, mainly loyal Denver sports fans (especially Nuggets fans), are staunchly against anyone from Los Angeles having a say in the franchise. Others seem to care less as long as he will bring the team success and run the team half as good as Pat Bowlen did during his time. However, Magic Johnson is going to have his fair share of competition.

Magic’s Competition

The Broncos are accumulating a long line of potential buyers. Perhaps the two most interesting camps include the two greatest quarterbacks in Denver history, John Elway and Peyton Manning. Interestingly enough, Tom Brady has been rumored to be included in Manning’s bidding group. Other notables include the owner of Wal-Mart, Rob Walton, Larry Ellis, the co-founder of Oracle, Byron Allen, the CEO of Entertainment Studios, Alec Gores, the CEO of The Gores Group, and Charlie Ergen, the Dish Network co-founder.

With all of this in mind, Magic Johnson is going to have to go through some big names to win ownership of the Denver Broncos. However, his net worth alone makes him a serious candidate to become Denver’s new owner. The team is projected to sell at a record-high $4-billion or even more! This would be the highest an NFL team has ever sold for and will also be more than the selling price of the Brooklyn Nets in 2019 which was $2.3 billion. Buckle up Broncos fans, the competition to watch is no longer the quarterback battle, but rather, the ownership one.