Michigan Mortgage Mogul Mat Ishbia and Magic Johnson Look at Buying Denver Broncos

May 27, 2022, 8:37 AM

Matt Ishbia and Magic Johnson

Three guys with Michigan ties are stepping up to express interest in buying the Denver Broncos football team.

Mat Ishbia of United Wholesale Mortgage of Pontiac, and his brother Justin, and separately Magic Johnson, who is linked to another group of investors, have been looking into buying the team, reports the Detroit Free Press, citing media sources. The NFL team, valued near $4 billion, has already taken one round of auctions and plans another.  

Johnson, a Lansing native and Michigan State grad who went on to NBA greatness, has joined a group led by Josh Harris, owner of the Philadelphia 76ers.

Other interested groups include one with Alec Gores, the billionaire brother of Detroit Pistons owner Tom Gores.  Hall of Fame quarterbacks Peyton Manning and John Elway are also in the mix, the Freep reports.

Read more:  Detroit Free Press

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