After James Dolan talked about how he doesn't like owning the Knicks, it was reported that Magic Johnson could be interested in buying the New York Knicks. Obviously, he would be a part of an ownership group due to his other investment holdings.
This was all a hypothetical, rather than a specific. But Johnson said the Knicks are the only team besides the Lakers he would ever consider involving himself with as an owner.
The Knicks would cost a lot more than other sports franchises due to the fact that it is one of the most popular teams in sports. Also most likely, it would require someone to buy Madison Square Garden due to the fact that the Knicks have played there for a very long time.
Additionally, it would be wise for whoever owns the team to also own the New York Rangers due to the fact that also have played in the Garden for a very long time. Obviously, it is very expensive to buy all three of those together.
Could Magic Johnson headline a group that eventually buy the Knicks?
Magic Johnson could certainly get a group together to buy the Knicks. The former Lakers star has a golden image that could be used to headline a group of wealthy people. The only real obstacle in any deal will be the fact that the NBA usually only lets owners that can improve the league to buy it. For example, Steve Ballmer added a lot of technological enchantments to the league when he bought the Clippers.
Johnson will need to find someone that can help enhance the league product as a whole as part of the ownership group before he is able to find other investors. If he doesn't then, the NBA golden boy will not have a good shot at getting a winning bid.