Multiple reports say that basketball legend Magic Johnson has joined a bid to purchase the Denver Broncos, though it is not known how much stake Johnson might take in the team.
Magic Johnson speaks to reporters prior to an NBA basketball game. The file is labeled "Mark J. TERRIll."
The oldest son of Walmart founder Sam Walton is one of at least five prospective buyers for the Broncos.
The sale of the Broncos is expected to break the record for the most spent to buy a sports team.
The Broncos value is estimated by Forbes at $3.75 billion.
At the time, Johnson was part of a group that purchased the Los Angeles Dodgers for $2 billion, setting a record for most expensive sale of a sports team. Johnson was part of the group that founded the Los Angeles Football Club as a Major League Soccer expansion franchise in the fall of 2015. After he was diagnosed with HIV in 1991, Johnson's career was cut short. He did not play in the NBA until 1996 due to the stigma of the time over HIV, but he was a member of the 1992 U.S. basketball Dream Team that won the gold medal at the Barcelona Olympics. After the 1996 playoffs, Johnson retired from the NBA.
The league has received criticism over a lack of minority owners, and the NFL could find a bid that includes Johnson attractive. The trust of the late owner Pat Bowlen requires the team to go to the highest bidder.
Magic Johnson is a part of Josh Harris' bid for the Denver Broncos.
The Brooklyn Nets are being bought for a record $3.3 billion.
The group of Magic Johnson won the Dodgers auction.
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