Magic Johnson, a former NBA star and part owner of the Washington Commanders, has been introduced as part of Josh Harris’ ownership group. The NFL owners unanimously approved the sale of the team to a group led by billionaire Josh Harris, which includes Johnson. Johnson owns 4% of the Washington Commanders, and the ownership group is led by Harris, who also owns other sports teams like the Philadelphia 76ers. He invested $242 million to purchase the stake. The Harris-led group purchased the team for a record $6.05 billion.
The Washington Commanders made history on July 20, 2023, when they were finally sold to Daniel Snyder for $6.05 billion. Two potential ownership groups are vying to buy the NFL’s Washington Commanders: Canadian billionaire Steve Apostolopoulos has officially submitted a $6 billion offer to buy the team, and Magic Johnson, who holds only 4% of the team, is considered a minority owner of the team.
Johnson officially obtained a 4% stake in the reportedly $6.05 billion price tag for the NFL franchise on May 12. He joined the prestigious company last week as it was announced that he is part of the ownership group acquiring the Washington Commanders. There are no Black majority owners in the NFL, but Johnson became a limited owner when Josh Harris bought the team this year.
Magic Johnson now has ownership stakes in teams across four professional sports leagues following the completion of the Washington Commanders’ $6.05 billion sale. He did so not as a Hall of Fame basketball player but as one of the new owners of the NFL’s Washington Commanders.
📹 Magic Johnson on whether he’ll change Commanders’ name
TODAY’s Craig Melvin sits down for an exclusive interview with the NBA legend Magic Johnson about his vision for the next …
📹 Magic Johnson’s Group Bid HOW MUCH for the Washington Commanders?!?!? | The Rich Eisen Show
Rich Eisen and the guys react to Magic Johnson’s group bidding a reported record $6 Billion to buy the Washington Commanders …
I don’t speak for all Commanders fans. I only speak for myself. That being said, I want no parts of Lamar Jackson. He’s nothing more than a regular-season highlight reel with the maturity level of a 12-year-old. Not to mention…a new owner doesn’t mean a higher salary cap. There’d be no room for anything remotely resembling that kind of contract.
I think you missed the mark here rich, I would have to imagine buying an NFL team is a lot like buying a house, you’d like a blank slate that you want to be able to make your own. Signing Lamar doesn’t make sense if you’re trying to increase the value of your team, all you do is tie up someone else’s money, which he may not like.