Decoding the Business of Earvin “Magic” Johnson

Johnson with MLB star Barry Bonds (Image: Getty)

A TRUE TEAM PLAYER

In October 2010, Johnson sold his 4.5 percent minority interest in the Los Angeles Lakers, giving up an estimated $27 million of the team’s total worth. A partial owner since 1994, it was rumored that he sold his stake to look into buying other NBA franchises. However, it was recently revealed that Johnson had actually set his sights on baseball—specifically the L.A. Dodgers. Already an investor for the Dayton Dragons, who sold out 844 consecutive games (an ongoing record for a North American professional sports franchise), Johnson became the first athlete to buy stock in a team of a different sport. Johnson, alongside Stan Kasten purchased the L.A. Dodgers for a “record $2 billion.”

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