Basketball veteran and business mogul Magic Johnson has his sights set on purchasing the NFL's Washington Commanders. It was recently reported that Johnson is part of a group that has officially submitted a bid to buy the team in conjunction with Josh Harris—who owns the 76ers—and billionaire Mitchell Rales. The bid is said to be worth $6 billion and meets current owner Dan Snyder's asking price.
Snyder and his wife Tanya initially announced that they were looking to sell the franchise in November 2022.
The Washington Commanders has undergone a serious rebranding within the last few years. Formerly known as the Washington Redskins, the team is noted as being the sixth most valuable franchise in the NFL—valued to be worth $5.6 billion.
Other parties that have expressed immense interest in acquiring the notable NFL franchise are Canadian billionaire Steve Apostolopoulos and Houston Rockets owner Tilman Fertitta. Apostolopoulos and Fertitta have also made a $6 billion bid for the Commanders.
Last year, it was rumored that Jeff Bezos and Jay-Z were interested in buying the team as well, so it is unclear what their current involvement or plans of action are.
Since the late 1980s, Magic Johnson has invested in various large-scale businesses that have made him a formidable force in the industry. These investments span across entertainment, sports, technology and tangible products with the primary focus of benefitting multicultural communities. This procurement would significantly level up the Basketball Hall of Famer's business portfolio and continue to solidify his legacy as a power player.