Lakers Hall of Famer Magic Johnson Buys Portion of Yet Another Sports Team

The five-time Los Angeles champ continues to accrue franchises.

Sep 7, 2024; Washington, District of Columbia, USA; Washington Commanders owner Magic Johnson poses for a photo after the game between the Washington Spirit and Portland Thorns FC at Audi Field. Mandatory Credit: Brad Mills-Imagn Images / Brad Mills-Imagn Images

Three-time Los Angeles Lakers MVP and five-time champion point guard Magic Johnson is adding to his sports ownership empire.

Johnson has bought into NWSL the Washington Spirit, as he and majority owner Michele Kang announced during a recent joint "CBS Mornings" appearance. King purchased the women's pro soccer club for a then-record $35 million two years ago. Johnson currently also owns stakes in MLB club the Los Angeles Dodgers (with whom he won a title in 2020), WNBA club the Los Angeles Sparks (2016), MLS team Los Angeles FC (2022), and most recently NFL squad the Washington Commanders.

Upon retiring, Johnson bought into Lakers ownership, too, and won five titles with the club in that capacity (during the team's Kobe Bryant era), but he sold his shares ahead of buying into the Dodgers.

.@MagicJohnson is joining the ownership group of @WashSpirit.

Johnson and Michele Kang, the Spirit’s majority owner, tell CBS Mornings about championing women’s sports: “I want to make sure that this sport, women’s soccer, can grow.” pic.twitter.com/hzP8VRlkKs

— CBS Mornings (@CBSMornings) September 5, 2024

“Michele and I met in Los Angeles and we clicked," Johnson explained. "We took off. It was a great conversation. When you think about what happened with the Olympics and the women’s soccer team dominated on the field, so the popularity of the game is exploding here in America... We knew worldwide it’s already a big deal and now it’s exploding here and so when she allowed me to be her partner.”

Johnson and Kang connected on another important level: their thoughts on the future of sports ownership.

“I love to be in the ownership because it’s important that they see minorities in an ownership position, but the main thing, too, is I love helping the athletes transition from their sport to hopefully business or whatever they want to do after their time being an athlete,” Johnson said. “Michele cares about the same thing and so we’re going to help these women not only on the field. We want to win championships … [but] here we’re going to help them after their career as well.”

The 6-foot-9 Michigan State product, a 12-time All-Star and 10-time All-NBA Teamer, is considered one of the best players in the history of the game, and the best or second-best player at his position ever. He has since become one of the elite business brains in the game. Johnson was recently valued at being worth over $1 billion, thanks to a series of savvy investments even beyond his sports ownership kick.

Led by stars Andi Sullivan and Trinity Rodman, son of former Laker Dennis, the Spirit are currently the No. 2 seed in the NWSL with a dominant 13-2 record.

More Lakers: Anthony Davis Believes NBA Won't Ever Give Him Defensive Player of the Year Award