Magic Johnson: Familiar Name Added To Group Bidding For Broncos Ownership

DENVER (CBS4)- The Denver Broncos have set their own deadline to have new ownership in place by the start of next season. A process that is shrouded in secrecy, yet new reports are surfacing daily about who's in and who's out.

The latest of those comes from the digital sports publication Sportico.

"A name better known for his basketball prowess and acumen in Magic Johnson," Scott Soshnick said.

Soshnick and his colleague Eben Novy-Williams, now are reporting that Earvin 'Magic' Johnson has joined the group bidding for ownership led by Josh Harris, owner of the 76ers and NHL Devils.

"We have sure known that the NFL is hopeful that all of the groups will have minority representation and Magic not only does he bring a minority contingent to the group, but he brings expertise, know-how, a perfect person to have in a group bidding on the Broncos," Soshnick said.

The name adds to several others now rumored to be interested in buying the team valued at around $4 billion.

Dan Price, Brand Marketing Director for Real Fig Advertising, spent years branding Denver sports teams and says bidders will likely start showing up in Denver now to see what their money is buying.

"There's always talk of real estate development, what's available around the stadium and arenas what else is packaged with this deal," he said.

Price says while fans may be watching the process unfold, their focus is on the future.

"I think there's a lot of people that just want to see stability," he said.

While a Denver Gazette report suggests the pool has already been narrowed down to just two finalists -- Rob Walton, an heir to Walmart, and Harris's group -- sources close to Broncos tell CBS4 that is not accurate.