LAS VEGAS – Magic Johnson is in talks to buy an ownership stake in the Las Vegas Raiders, according to a report Semafor.
Johnson currently has ownership stakes in the Los Angeles Dodgers, Los Angeles Sparks and LAFC. He sold his ownership stake in the Los Angeles Lakers in 2010.
The Raiders were recently valued at $6.5 billion in a report by Forbes and it is believed that if owner Mark Davis does sell a minority slice of the team that it would set a new record for the value of professional sports franchises.
A deal is not imminent, according to a source, but Johnson has been assembling an investment team to buy a piece of the NFL team Johnson adopted as his own when he played for the Lakers. Johnson would routinely attend Raiders games when the team played at the Los Angeles Memorial Coliseum from 1982-1994 and continued to attend games when the team moved back to Oakland.
Earlier this month, LeBron James expressed his interest in being part of the ownership group of whatever NBA team comes to Las Vegas. Could the two Lakers legends be future co-owners of professional sports franchises in Las Vegas?