NBA Hall of Famer Magic Johnson is reportedly pursuing an ownership stake in the NFL’s Las Vegas Raiders that would set a record valuation for the sports franchise, Semafor reports.
Why it matters: NFL franchises are some of the most valuable assets in the world. 16 NFL franchises are worth at least $4 billion, compared to four MLB teams and three in the NBA.
- Johnson is leading a group that’s seeking to buy a minority stake in the team, owned by the family of the late Al Davis.
- The Raiders have received a minority stake offer that valued the team at $6.5 billion, Forbes reported this summer.
