Magic Johnson Joins Bid To Buy Denver Broncos

Kanye West and Antonio Brown have some competition ... 'cause Lakers legend Magic Johnson is joining a bid to purchase the Denver Broncos!!

The Hall of Fame hooper is hopping on Philadelphia 76ers co-owner Josh Harris' offer to purchase the NFL team, according to Sportico.

Of course, superstar Antonio Brown previously told TMZ Sports he and Kanye West are "extremely serious" about taking over the team ... claiming Donda Sports was working like crazy to make it happen.

With that being said, the Broncos are currently valued at close to $4 billion ... and when it's all said and done, the sale is expected to be the biggest in sports history.

Johnson has become a business mogul following his incredible career with the Purple & Gold -- he's invested in the Dodgers, Lakers, Sparks and LAFC ... as well as Starbucks, Burger King, Square, Cameo, 24 Hour Fitness and more.

Magic's involvement would be a step in the right direction for the NFL, which has a serious issue with diversity among NFL owners.

Now, Forbes reports Ye has a net worth of around $1.8 billion ... but Harris' is reportedly around $5.6 billion.