NBA icon Earvin “Magic” Johnson has joined a bid to purchase the Washington Commanders.
According to the Associated Press, Johnson is joining billionaire Josh Harris’ bid to purchase the NFL franchise. Harris owns the Philadelphia 76ers and New Jersey Devils, while Johnson currently owns a partial interest in the Los Angeles Dodgers, Los Angeles F.C. and Los Angeles Sparks.
Dan and Tanya Snyder currently own the Washington Commanders, which are worth $5.6 billion, according to Forbes. Team officials noted in a November statement that the Snyders “have hired BofA [Bank of America] Securities to consider potential transactions” from potential buyers.
According to CNN, the Snyders have not publicly commented on “who has or has not expressed interest.”
PEOPLE reports that the Snyders, who are exploring a possible sale amid investigations into financial impropriety and accusations of a toxic and hostile work environment, “remain committed to the team, all of its employees and its countless fans to putting the best product on the field and continuing the work to set the gold standard for workplaces in the NFL.”
Meanwhile, theGrio reported previously that Byron Allen, the founder and CEO of Allen Media Group— which owns theGrio — prepared an offer for the team. Hip-hop legend Jay-Z and Jeff Bezos are also said to be considering a potential joint bid.
The sale of the Commanders is expected to top what the Walton family paid for the Denver Broncos by $500 million or more, Yahoo reports. Walmart heir Rob Walton acquired the NFL franchise for a reported $4.65 billion last June after Harris and Johnson made an unsuccessful bid to buy it.
Currently, there are only two NFL Black minority owners — John Stallworth (Pittsburgh Steelers) and Warrick Dunn (Atlanta Falcons). In recent years, there has been increased pressure on the league to diversify its ownership ranks.
Source: TheGrio Staff