Earvin “Magic” Johnson is entering the bidding for the Denver Broncos.
The former NBA superstar has joined the bid group led by Philadelphia 76ers co-owner Josh Harris.
he Broncos are expected to set a record for the highest price ever paid for a sports franchise, topping the $3.3 billion that Joe Tsai paid for the Brooklyn Nets and the rights to operate the Barclays Center in a deal completed in 2019. Sportico recently valued the team at $3.8 billion.
Johnson, 62, has become a successful businessman after retiring from the NBA in 1996. In addition to the Dodgers, he’s made lucrative moves into real estate and franchising movie theaters, Starbucks stores, fast food and gyms. He’s a Fanatics board member and also an investor in esports organization aXiomatic, the WNBA’s Los Angeles Sparks and the MLS club LAFC.