Basketball Hall of Famer Magic Johnson has reportedly joined a bid led by Josh Harris to purchase the NFL’s Washington Commanders, according to an anonymous source.
Johnson, who is already involved in sports ownership with stakes in the Los Angeles Dodgers, Los Angeles FC, and the Los Angeles Sparks, was also part of Harris’ unsuccessful bid to buy the Denver Broncos in 2021.
Harris and his partner David Blitzer own the Philadelphia 76ers and the New Jersey Devils, respectively, while Washington-area billionaire Mitchell Rales is also reportedly part of Harris’ group.
The Washington Commanders are expected to sell for over $5.6 billion, which would be the highest price paid for a North American professional sports franchise. The current owner, Dan Snyder, and his wife Tanya are exploring selling part or all of the team amid multiple investigations into workplace conduct and potential financial improprieties.
Snyder’s ownership has been controversial for years, with several employees coming out about workplace harassment, prompting a league investigation and a $10 million fine. However, when no written report of Beth Wilkinson’s investigation was produced, the U.S. House Committee on Oversight and Reform launched its own review, which included a referral to the Federal Trade Commission.
The league retained former U.S. Attorney Mary Jo White to investigate, and that probe is ongoing. At a league meeting in October 2021, Indianapolis Colts owner Jim Irsay said there was “merit to remove” Snyder, who then hired Bank of America Securities two weeks later. Any sale of the Washington Commanders would need to be approved by three-quarters of NFL owners, which could happen at their upcoming meeting in Arizona.
Harris is a co-founder of Apollo Global Management, the alternative asset manager he started with Marc Rowan and Leon Black. After leaving Apollo in 2022 he founded the investment firm 26North. He also co-founded Harris Blitzer Sports & Entertainment, owner of the NBA’s Philadelphia 76ers and NHL’s New Jersey Devils. With so many companies under his belt, Josh Harris, according to Forbes has an impressive “real-time net worth” of $ 5.8 billion.
James Harden faces a crucial decision on his NBA future: Should he rejoin the Houston Rockets or stay with the Philadelphia 76ers?
James Harden of the Philadelphia 76ers faces a crucial decision in the upcoming offseason. He can become an unrestricted free agent by declining his player option for the 2023-24 season, and rumors suggest he may be interested in rejoining the Houston Rockets.
However, with the Rockets currently boasting the NBA’s second-worst record, joining them could be a risky move for the 33-year-old star seeking his first championship.
The Rockets, along with the Detroit Pistons and San Antonio Spurs, will have a 14 percent chance at landing the No. 1 overall pick in the upcoming NBA draft, which could potentially select French sensation Victor Wembanyama.
Pairing Wembanyama with Harden could put Houston back into title contention quickly. However, if they don’t get the top pick, adding Harden alone may not be enough to make them championship contenders.
With their league-high projected salary-cap space, the Rockets would have to spend most of it to bring Harden back, leaving little room for additional outside help to bolster their 29th-ranked defense. Therefore, if Harden seeks immediate championship validation, staying with the 76ers and making a playoff run with them may be his best remaining chance.
