Magic Johnson reportedly joins Commanders ownership bid

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Magic Johnson has joined Josh Harris’ bid to buy the NFL’s Washington Commanders, according to reports from Sportico and The Associated Press.

Johnson, a basketball Hall of Famer and five-time NBA champion with the Los Angeles Lakers who later became a prominent executive, is already involved in sports ownership with stakes in Major League Baseball’s Los Angeles Dodgers , Los Angeles FC of Major League Soccer and the WNBA. Los Angeles Sparks. He was also part of Harris’ failed bid to buy the Denver Broncos, which were sold to a group led by Walmart heir Rob Walton for a record $4.65 billion.

The Commanders are expected to sell for more, which would be the highest price ever paid for an American professional sports franchise. Forbes estimates the team is worth $5.6 billion.

Harris along with his partner David Blitzer own the Philadelphia 76ers of the NBA and the New Jersey Devils of the NHL. Washington-area billionaire Mitchell Rales is also part of Harris’ group.

Amid multiple investigations into workplace conduct and possible financial improprieties, longtime owner Dan Snyder and his wife Tanya began exploring selling some or all of the team in the fall. Any sale would have to be approved by three-quarters of NFL owners, which could happen at their next meeting in Arizona.

Snyder’s ownership has been a hot-button issue for years as several employees spoke out about workplace harassment, which led to a league investigation and a $10 million fine. When no written report was produced from Beth Wilkinson’s investigation, the US House Oversight and Reform Committee launched its own review of the situation, which included a referral to the Federal Trade Commission.

The league hired former U.S. Attorney Mary Jo White to investigate, and that investigation is ongoing. At a league meeting in October, Indianapolis Colts owner Jim Irsay said there was “merit to remove” Snyder, who then hired Bank of America Securities two weeks later.

The Associated Press contributed to this report.

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