Our Clients:

Field Level Media - Professional sports content solutions | FLM

May 5, 2022 11:37 am

Report: Magic Johnson joins group bidding for Broncos

Magic Johnson reportedly joined the group led by 76ers and Flyers owner Josh Harris bidding to purchase the Denver Broncos.

Sportico reported Thursday that Johnson would be part of Harris’ bid, with up to six others expected to be potential stakeholders.

Johnson, a member of the ownership group of the Los Angeles Dodgers and NBA legend, is one of many recognizable names who’ve decided to enter the high-stakes chase for the NFL franchise, which officially went on the block Feb. 1.

Harris is the controlling owner of the 76ers and the principal and managing owner of the Flyers. Harris co-founded Apollo Global Management, a worldwide investment firm, and is a general partner of English Premier League club Crystal Palace. In July 2021, his net worth was estimated at more than $7.5 billion by Bloomberg.

The competition is expected to be fierce to purchase the Broncos from the Pat Bowlen Family estate.

At the annual NFL meetings on March 26, Broncos president and CEO Joe Ellis said a new owner could be in place by the start of the season in September. While he couldn’t reveal names of any potential suitors, he said there was “really a significant amount of interest” and “a number of” very qualified buyers.

S. Robson “Rob” Walton is a frontrunner to buy the Broncos. Walton, 77, is the oldest son of Walmart founder Sam Walton and worth $70.8 billion, Forbes said. That net worth makes him the 19th-richest person in the world, per the publication.

In its annual valuation of NFL teams, Forbes in 2021 set the value of the Broncos at $3.75 billion, though the sale price is expected to exceed that amount.

–Field Level Media

You may also like

SEC logo
May 24, 2024 2:16 am

Report: Power 5, NCAA reach historic agreement to pay players

The SEC and Pac-12 joined the three other power conferences – the Big Ten, ACC and Big 12 – and the NCAA in agreeing on a multi-billion-dollar settlement that would…

Maxx Crosby
May 23, 2024 11:30 pm

Report: Raiders DE Maxx Crosby receiving $6M raise

Maxx Crosby, the Las Vegas Raiders’ star defensive end, will make an additional $6 million next season, ESPN reported on Thursday. Per the report, the Raiders won’t add any years…

sean payton
May 23, 2024 10:24 pm

Sean Payton calls Broncos’ quarterbacks ‘orphaned dogs’

Denver coach Sean Payton didn’t use the most flattering metaphor when describing the Broncos’ three quarterbacks. Payton called the trio, which consists of Bo Nix, Zach Wilson and Jarrett Stidham,…

More Football News

SEC logo
May 24, 2024 2:16 am

Report: Power 5, NCAA reach historic agreement to pay players

The SEC and Pac-12 joined the three other power conferences – the Big Ten, ACC and Big 12 – and the NCAA in agreeing on a multi-billion-dollar settlement that would…

Maxx Crosby
May 23, 2024 11:30 pm

Report: Raiders DE Maxx Crosby receiving $6M raise

sean payton
May 23, 2024 10:24 pm

Sean Payton calls Broncos’ quarterbacks ‘orphaned dogs’

Isaiah Augustave
May 23, 2024 7:08 pm

Former Arkansas RB Isaiah Augustave transfers to Colorado

Marvin Harrison Jr.
May 23, 2024 3:57 pm

Cardinals first-round pick Marvin Harrison Jr. signs contract

Read all
fb-post
advertisment
title-icon

Upcoming events

See all odds