NBA legend part of group looking to purchase Broncos

Aug 24, 2018; Landover, MD, USA; Denver Broncos executive vice president and general manager John Elway stands on the field during warm ups prior to the Broncos’ game against the Washington Redskins at FedEx Field. Mandatory Credit: Geoff Burke-USA TODAY Sports

Several investment groups have been preparing bids to purchase the Denver Broncos for what will likely be a record figure, and one NBA legend has entered the fold.

Magic Johnson has joined one of the bidding groups that is trying to buy the Broncos, according to a report from Sportico. The group is led by billionaire Josh Harris, who owns the Philadelphia 76ers and New Jersey Devils.

Johnson, of course, is a part-owner of the Los Angeles Dodgers. He was part of a group that purchased the team back in 2012. The Dodgers won a championship in 2020 and have been to the World Series three times since 2017.

Sportico estimates that the Broncos will sell for somewhere around $3.8 billion. That would be a record for the highest price ever paid for a sports franchise.

Several high-profile sports figures have been linked to the sale of the Broncos, and Johnson is the latest. The Pat Bowlen Trust is aiming to sell the team before the start of the 2022 season.