LAS VEGAS — NBA Hall of Famer Magic Johnson is reportedly in talks to acquire an ownership stake in the Raiders.
Media outlet Semafor reported Friday that Johnson was putting together a group of investors in hopes of obtaining a minority stake in the NFL franchise.
Raiders owner Mark Davis and team president Sandra Douglass Morgan didn’t respond to the Review-Journal’s requests for comment.
The report on Johnson’s interest comes on the heels of a Forbes report in August that an unnamed potential buyer had an offer extended to Davis for a minority stake in the team.
Forbes noted minority stakes usually involved about a 5% stake in the team. Minority owners don’t have operational say in the team.
The Raiders’ valuation has skyrocketed since their move to Las Vegas was set into motion, going from $2.1 billion in 2015 to $5.1 billion this year, according to Forbes. That increase saw the Raiders go from the 31st-most valuable team in the NFL to ninth.
From 2021 to 2022, the Raiders’ value jumped 49 percent, the largest year-to-year increase in the NFL.
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