Updated October 22, 2022 - 4:07 pm
NBA Hall of Famer Magic Johnson is reportedly in talks to acquire an ownership stake in the Raiders.
Media outlet Semafor reported Friday that Johnson was putting together a group of investors in hopes of obtaining a minority stake in the NFL franchise.
Raiders owner Mark Davis and team president Sandra Douglass Morgan didn’t respond to the Review-Journal’s requests for comment.
The report on Johnson’s interest comes on the heels of a Forbes report in August that an unnamed potential buyer had an offer extended to Davis for a minority stake in the team.
Forbes noted minority stakes usually involved about a 5 percent stake in the team. Minority owners don’t have operational say in the team.
The Raiders’ valuation has skyrocketed since their move to Las Vegas was set into motion, going from $2.1 billion in 2015 to $5.1 billion this year, according to Forbes. That increase saw the Raiders go from the 31st-most valuable team in the NFL to ninth.
From 2021 to 2022, the Raiders’ value jumped 49 percent, the largest year-to-year increase in the NFL.