Lakers News: Why Magic Johnson Felt Compelled To Buy Into NFL Team Ownership This Summer
By being part of the ownership group that purchased the NFL's Washington Commanders from persona non grata ex-owner Dan Snyder, Los Angeles Lakers Hall of Fame point guard-turned-business magnate Magic Johnson now possesses a piece of sports teams across four different U.S. leagues, notes Broderick Turner of The Los Angeles Times.
Johnson currently owns a chunk of the Dodgers, the Los Angeles Sparks of the WNBA, the Los Angeles Football Club of the MLS.
The 6'9" Michigan State product spoke with Turner recently about his latest venture. Johnson won five titles and three league MVPs as a player, but his second act as an entrepreneur has been almost as impressive.
Johnson explained to Turner how he first met new Commanders owner Josh Harris while on the board for the worldwide leader in sports merchandise, Fanatics.
"I joined the Fanatics’ board and [chief executive] Michael Rubin and Josh were partners in the 76ers and Josh wanted to speak with me and we started talking and realized that we were two men that had similar thinking, in terms of how to be successful but also how to give back to the community," Johnson said. "That’s why we ended up being partners because our values were aligned. It wasn’t just about making money. It was how do we improve the communities that we do business in. Once he said that, I was jumping for joy because those are the type of partners I want to be in business with."
"Now I get a call back from him when the Denver Broncos went up for sale and he said, ‘Magic, I’d like for you to be one of my partners and we should go after the Denver Broncos.’ I was jumping for joy, I was so excited. We ended up losing, but we stayed in touch," Johnson continued. "As soon as the Commanders went up for sale, I got that call from Josh. The first thing I said to him, just like I said to Mark Walter of the Dodgers, ‘Do you want to win?’ That’s my No. 1 question to everybody. I want to win. He said yes. And what I love about him is he said he wants me to have a major role."
They bought the club for a record $6.05 billion price tag. Johnson, of course, is no stranger to winning as a stakeholder in a sports franchise, having won five titles with the Lakers in such a capacity (he wasn't part of the ownership group when the team won in 2020, having sold his ownership stake off in 2010 -- after title No. 17), plus one championship apiece with the Dodgers, Sparks and LAFC.
Now, Johnson has his sights set on gridiron glory.
"Think about it. It is a historic franchise that has already won Super Bowls — I think it was three [in the 1982, 1987 and 1991 seasons]. Doug Williams, watching him win the Super Bowl [in the 1987 season]. We all celebrated that, especially African Americans in the country," Johnson noted. "When you think about Washington, D.C., a majority minority city. I’ve done business there in Washington, D.C. And I told this story — and people forget this — I was the last person [former Lakers owner] Jack Kent Cooke signed and he had to sign me so that he could then sell the team to Dr. Buss [in 1979]. So, when Dr. Buss wrote him that check, he needed that check to buy the Washington Redskins. It’s that crazy. People don’t know that. That [$67.5 million] went a long way. So, I guess it’s destiny that I’m supposed to be a part of this because I’ve done so much in the city. Abe Pollin, the old Bullets owner, was one of my mentors as well. He introduced me to a lot of business people in D.C., and this was when I was still a player. It’s just crazy how things lined up. This is where I’m supposed to be."
Can he win yet another championship, this time with a Commanders club that has for decades been one of the league's laughingstocks? I wouldn't bet against him.
Are you following us on Twitter, Facebook, or YouTube yet? Join the conversation as we discuss the latest Lakers news and rumors with fans like you!
