Basketball Corridor of Famer and entrepreneur Magic Johnson is about to be a partial proprietor within the new possession group buying the Washington Commanders – a barrier-breaking transfer as he’s the primary Black man to personal a major stake in staff historical past.
Johnson is the proprietor of the $700 million Magic Johnson Enterprises of Beverly Hills, California. He formally obtained a 4 p.c stake within the reportedly $6.05 billion price ticket for the NFL franchise on Might 12. when Dan and Tanya Snyder agreed to promote the Commanders to a bunch led by Chevy Chase, Maryland, resident Josh Harris, the co-owner of the Philadelphia 76ers.
Harris, 58, is the lead proprietor of the Commanders with Potomac, Maryland, billionaire Mitchell Rales, the co-founder of the Danaher Firm, possessing a major share of the franchise.
Johnson, 63, mentioned he appears ahead to being a part-owner of the staff.
“I couldn’t be extra excited to be a associate within the proposed new possession group for the Washington Commanders,” Johnson tweeted. “Josh Harris has assembled an incredible group who share a dedication to not solely nice issues on the sector however to creating an actual impression within the (Washington-area) neighborhood. I’m so excited to get to work on executing our imaginative and prescient for the Commanders and our loyal fan base.”Johnson additionally has a significant stake within the Los Angeles Dodgers, the Los Angeles Sparks, and the Los Angeles Soccer Membership. In 1990, Johnson teamed with Black Enterprise Writer Earl Graves Sr., and Pepsi to create Pepsi-Cola of Washington, D.C. L.P., the biggest minority-controlled Pepsi bottling franchise within the nation priced at $60 million.