As the bidding war for the Denver Broncos heats up, the group led by Philadelphia 76ers co-owner Josh Harris has added significant star power to their charge by adding NBA legend Magic Johnson to their bid group.
Johnson, 62, would be a huge add. With a net worth of around $600 million, he could also be a significant stakeholder in the team if the Harris-led group ultimately submits the winning bid for the franchise.
Last month, three of the five finalists to purchase the team were announced. One of those, the group led by Todd Boehly recently won the bid to purchase Chelsea, a British soccer team, so that might narrow the bidding war to four moving forward. The Harris-led group will likely face its biggest competition against Walmart heir, Rob Walton.
Bidding is expected to be north of $4 billion. However, it is important to note that the NFL does not always accept the highest bid. If two bids are in roughly the same ballpark, they could make a decision based on outside factors. One of those could be the people involved in the bidding group itself, so adding Johnson here could end up making a significant difference when the final bid offer is accepted.
As a fan, it is also exciting to see real legends of the sporting world want in on our favorite team. I’m sure many of us are still hoping Peyton Manning or John Elway are involved somehow in one of the unnamed bidding groups.