A group led by Josh Harris and Mitchell Rales that includes Magic Johnson has an agreement in principle to buy the team for a record $6.05 billion, two people with knowledge of the situation told The Associated Press on Thursday.
The people confirmed the deal was a fully financed, nonexclusive agreement that was not yet signed. The people spoke on condition of anonymity because the deal hasn’t been finalized.
Another person told The AP a deal hasn’t been sent to the NFL for approval yet. The league declined to comment.
Once the deal is approved, Harris would own controlling stakes in teams in three of the four major North American pro sports leagues. He and David Blitzer have owned the NBA’s Philadelphia 76ers since 2011 and the NHL’s New Jersey Devils since 2013.