Magic Johnson Joins Bid To Purchase NFL Team: Report
By Jason Hall
March 20, 2023
Basketball Hall of Famer Earvin 'Magic' Johnson has reportedly joined a group led by Philadelphia 76ers and New Jersey Devils co-owner Josh Harris to purchase the Washington Commanders, multiple sources with knowledge of the negotiations confirmed to Sportico on Monday (March 20).
Johnson was formerly part of Harris' failed bid to purchase the NFL's Denver Broncos -- who were ultimately sold to the Walton family -- in 2022. The five-time NBA champion is reported to be included in order to bring both his money and expertise to the Commanders bid, according to the sources, who spoke to Sportico on the condition of anonymity.
Negotiations on a sale of the Washington franchise reportedly progressed last week and a sale could potentially be reached ahead of the NFL Owners' Meeting, which is scheduled to take place in Arizona next week.
In November, Dan and Tanya Snyder announced they hired Bank of America Securities to consider "potential transactions" in relation to the Commanders franchise last November.
"Dan and Tanya Snyder and the Washington Commanders announced today that they have hired BoA Securities to consider potential transactions," the Commanders said in a statement re-shared by CBS Sports NFL Insider Jonathan Jones on November 2. "The Snyders 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.
Statement from the Commanders says they're considering "potential transactions" pic.twitter.com/2kzruHjw3I— Jonathan Jones (@jjones9) November 2, 2022
The report came days before Washington, D.C. Attorney General Karl A. Racine announced he was suing the Washington Commanders, Snyder, the NFL and its commissioner, Roger Goodell, "for colluding to deceive District residents—the heart of the Commanders’ fanbase—about an investigation into toxic workplace culture."
BREAKING: My office is suing Commanders owner Dan Snyder, the Commanders, NFL Commissioner Roger Goodell, and the NFL for colluding to deceive District residents—the heart of the Commanders’ fanbase—about an investigation into toxic workplace culture.— Archive: AG Karl A. Racine (@AGKarlRacine) November 10, 2022
On November 2, ESPN reported that a criminal investigation into the Commanders had been launched by the U.S. attorney's office in the Eastern District of Virginia in relation to allegations that the team "engaged in financial improprieties," two sources familiar with the situation confirmed.