Washington Commanders' new identity: Could the Orlando Magic moniker be in the cards?

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ORLANDO, Fla. - The Orlando Magic might have some new competition – but it won't be on the court.

Now that Magic Johnson, along with the Josh Harris-led group, purchased the Washington Commanders from Dan Snyder for a record $6.05 billion, could there be another pro Magic team on the horizon?

"I think everything is on the table, especially after this year," Johnson said in an interview with the TODAY Show on Friday about a potential name change. "We'll see where we are with the name, but I can't say that right now."

Sports betting site BetOnline.com listed the odds of potential Washington Commanders name changes, and Magic/Magicians is +900 as of Monday, according to Sports Illustrated.

Other potential names in the running are Spartans (+600), Football Team/Club (+700), Red Hogs (+800), Armada (+1000) and Presidents (+1100).

JULY 21: Earvin 'Magic' Johnson, a new owner of the Washington Commanders, greets fans at a pep rally after a press conference introducing the team's new ownership at on July 21, 2023 in Landover, Maryland. NFL teams owners have unanimously approved

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Currently, the Orlando Magic are the only major pro team with the Magic moniker in any sport. It's not uncommon, however, for different pro sports teams to have the same name (looking at you, Cardinals, Rangers and Giants!).

"We’re going to spend this year understanding what we have in place, and then I’m sure (talk of a new facility) will come up, the name of the team will come up eventually, but right now we’ve got enough work to do and that will keep us busy," the Hall of Famer said.

JULY 21: Earvin 'Magic' Johnson, a new owner of the Washington Commanders, delivers remarks during a press conference introducing the team's new ownership at FedExField on July 21, 2023 in Landover, Maryland. NFL teams owners have unanimously approve

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The Commanders retired their former name in July 2020 and the new name was revealed about a year and a half later.

FOX News contributed to this report.