Decoding the Business of Earvin “Magic” Johnson

Adding the L.A. Dodgers to his business portfolio, the NBA Hall-of-Famer continues to secure landmark deals

Johnson with Starbucks Chief Executive Officer, Howard Schultz (Image: Getty)

FOOD FOR THOUGHT

Knowing the importance of daily nutrition, the former Lakers’ owner partnered with several companies to put his imprint on the food service industry. In 1998 Johnson teamed up with Carlson Restaurants Worldwide Inc. to establish Magic Johnson’s T.G.I. Friday’s in Ladera, CA. He also teamed up with Sodexo, Inc., a food service company, in 2006 to establish SodexoMAGIC, which provides catering, food distribution and environmental maintenance to a client list of nearly a dozen companies.  During that same year, Johnson worked with Starbucks’ Chief Executive Officer, Howard Schultz to acquire 50% of the coffee shop company, but sold 105 coffeehouse franchises back to the company in 2010 for a reported $75 million.

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