Is Magic Johnson Still Partially Owned By The Lakers?

Los Angeles Lakers legend and part-owner Earvin “Magic” Johnson has sold his share of the team to Dr. Patrick Soon-Shiong, according to a statement. Johnson, who bought a 4.5 stake in the Los Angeles Lakers for $10 million in 1994, sold it in 2010, just before NBA team values exploded. This means the five-time NBA champion and three-time NBA most valuable player is a part owner of teams in four U.S. sports leagues. Johnson is still a Lakers fan to his core, owning small stakes in the NFL’s Washington Commanders, MLB’s Los Angeles Dodgers, WNBA’s Los Angeles Sparks, and MLS’s LAFC.

Johnson returned to the Los Angeles Lakers on Thursday as an adviser to owner Jeanie Buss, possibly signaling a change in his life. He has been an advocate for HIV/AIDS prevention and safe sex, as well as an entrepreneur, philanthropist, broadcaster, and motivational speaker. Forbes estimates that Johnson’s stake in the Lakers in 2010 was worth $29 million, but his stake today would be worth more than $265 million.

Johnson also owns the Los Angeles Dodgers, Los Angeles Sparks, and Los Angeles FC. The franchise is now worth nearly $6 billion per Forbes. After selling his stake in the Lakers, Johnson’s love for his Los Angeles Lakers has kept him from considering ownership of any other NBA team.

Over the years, Magic Johnson Enterprises has invested ownership in many lucrative businesses such as the Los Angeles Lakers, movie theaters, Marvel, Jopwell, the Los Angeles Sparks, Cigna, and more.

Does Magic Johnson still own a piece of the Lakers?

In 1994, Howard Johnson bought a 4. 5-stake in the Los Angeles Lakers for $10 million, which he sold in 2010, before NBA team values soared. His stake in the Lakers was estimated to be worth $29 million in 2010, but today it would be worth over $265 million. Johnson also launched Magic Johnson Theaters with Sony Pictures and established a 50/50 joint venture with Starbucks to open over 100 locations in Black neighborhoods, selling them back for $75 million in profit.

Is Magic Johnson part owner of the Los Angeles Dodgers?

Magic Johnson is a partial proprietor of the Dodgers, though not the majority owner. It seems plausible to suggest that he is the most visible public face of the ownership group, potentially due to his frequent appearances on camera during every game he attends.

Who are the current owners of the Los Angeles Dodgers?

Mark Walter, the chairman and controlling owner of the Los Angeles Dodgers, is a business leader with a diverse portfolio that includes financial services, insurance, sports, media, fashion, energy, infrastructure, and real estate.

What is Magic Johnson’s net worth today?

In 2024, Magic Johnson, a Hall of Famer in the field of basketball, became a billionaire as a result of his investments in professional sports teams and his ownership of a life insurance company that has experienced considerable growth.

How many Starbucks does Magic Johnson own?

Magic Johnson Enterprises is an investment company focusing on movie theaters, restaurants, and real estate. It was the only Starbucks franchisee, owning 125 across the country, and has since sold them. The company also offers deals and investments in media, sports tech, music, film, TV, big tech, and AI. The company’s work includes investments, advisory, careers, terms and conditions, and privacy policy.

Does Magic Johnson own Pepsi?

In 1990, NBA player Earl Johnson demonstrated his dominance on the court and in the boardroom by buying a controlling stake in a Pepsi-Cola Co. bottling plant for $60 million. He and Earl Graves formed the largest minority-owned and operated Pepsi facility in the country at the time. This was Johnson’s first business venture outside of product endorsements.

As Starbucks experienced significant growth in the 1990s, Johnson saw an opportunity in 1998 to expand into Black communities. He met with then-Starbucks CEO Howard Schultz, who believed Starbucks could turn a profit in the inner city. Schultz was impressed by a movie screening at a Magic Johnson Theater, where he watched 500 Black women in a theater. Johnson and Schultz agreed to expand Starbucks into the inner city with “pound cake instead of scones”, and Johnson said that stroking the Starbucks deals “is what really stamped me as a serious businessman”.

What percentage of the Lakers does Magic Johnson own?

In 2008, Johnson signed a marketing deal to help Best Buy boost sales in urban areas. In 2010, he sold his Los Angeles Lakers interest for $27 million to Patrick Soon-Shiong. In 2006, Johnson partnered with Sodexo, forming SodexoMAGIC, LLC, a 51%-owned joint venture. In 2015, the company acquired a controlling interest in EquiTrust Life Insurance Co. and made headlines for concluding a deal with Sodexo. Johnson’s involvement in various companies highlights his significant contributions to the industry.

Does Magic Johnson still own Starbucks?

Magic Johnson Enterprises is the sole franchisee of Starbucks, with ownership of 125 franchises distributed across the United States. He has subsequently divested himself of all such holdings. The company’s primary areas of interest are deals, investments, media, sports technology, music, film, television, major technology companies, artificial intelligence, executives, and entrepreneurs. Additionally, the website provides guidance on a range of topics, including career opportunities, terms and conditions, and a privacy policy.

What team is owned by Magic Johnson?

Earvin Johnson, an NBA icon and former head coach of the Los Angeles Lakers, has joined the ownership group of the Washington Spirit. Johnson, who has held partial ownership stakes in multiple American sports teams, women’s sports, and soccer, is also a part of the Washington market. He has a partial ownership stake in the Los Angeles Dodgers and Team Liquid, an eSports franchise. The Washington Spirit is proud to welcome Johnson to its investor group, stating that he knows how to win from the basketball court to the boardroom. Johnson’s expertise in sports and women’s sports is expected to benefit the organization.

Who is the only NBA billionaire?

Jordan, the richest retired athlete in the world, has a net worth of 1. 7 billion dollars. He is responsible for maintaining Google services, tracking outages, protecting against spam, fraud, and abuse, measuring audience engagement, and enhancing service quality. Google uses cookies and data to develop new services, measure ad effectiveness, and show personalized content based on user settings.

When did Dodgers change ownership?

The 2011-12 Los Angeles Dodgers ownership dispute began when Major League Baseball (MLB) took control of the team from owner Frank McCourt. The dispute was not resolved until the team was sold to new owners in 2012. MLB Commissioner Bud Selig announced the takeover was due to concerns over the Dodgers’ finances and McCourt’s ability to run the team. Selig appoint an overseer to oversee the team’s financial management. In June, the Dodgers struggled to meet payroll, leading to Selig rejecting a television contract that would have pumped money into the organization.

This led to the Dodgers filing for bankruptcy and being forced to negotiate a loan with MLB. After a year of negotiations and court proceedings, the dispute ended with the sale of the team to Guggenheim Baseball Management LLC. Frank McCourt and his wife Jamie purchased the Dodgers from Fox Entertainment Group in 2004. Under McCourt’s ownership, the Dodgers made the playoffs four times and advanced to the National League Championship Series twice.