NFL Rumors: NBA legend Magic Johnson enters bidding war to purchase Denver Broncos

NBA legend Magic Johnson, a five-time NBA champion, has entered the bidding war to purchase the Denver Broncos. The former Los Angeles Laker has joined a group being led by Philadelphia 76ers co-owner Josh Harris.

It has not been revealed how much Earvin "Magic" Johnson has contributed to the bidding group looking to purchase the franchise, which has an estimated value of around $3.8 billion. If sold, it will likely set a record for the highest price ever paid for a sports franchise.

The Broncos were put up for sale on February 1, 2022 and talks are still ongoing to find a successor to the Bowlen family.

In late-March, the NFL issued a statement on increasing diversity within prospective ownership groups, saying:

"The NFL member clubs support the important goal of increasing diversity among ownership."

They went on:

"Accordingly, when evaluating a prospective ownership group of a member club pursuant to League policies, the membership will regard it as a positive and meaningful factor if the group includes diverse individuals who would have a significant equity stake in and involvement with the club, including serving as the controlling owner of the club."

With this recent statement from the NFL, it is expected that each group pursuing the purchase of the Denver Broncos will have minority representation.

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New-look Broncos set for exciting 2022 season amid sale of the franchise

Denver made a significant move in the offseason that will likely put a smile on the faces of prospective buyers. On March 16, the Broncos acquired quarterback Russell Wilson and a fourth-round pick from the Seattle Seahawks. Seattle gained two first-round picks, two second-round picks, a fifth-round pick, quarterback Drew Lock, defensive lineman Shelby Harris, and tight end Noah Fant in return.

Wilson joins a promising, young team with plenty of potential, and there's no doubt about that. However, the AFC West is probably the best division in the NFL, or at least it has the potential to be just that in 2022 with the caliber of quarterback in the division.

Wilson joins a stacked AFC West and will play Patrick Mahomes' Kansas City Chiefs, Justin Herbert's Los Angeles Chargers, and Derek Carr's Las Vegas Raiders twice every season.

In what will prove to be a mouthwatering division in the NFL, the Broncos' prospective owners have plenty to be excited about in 2022.