What sports franchise does Magic Johnson own?
What sports franchise does Magic Johnson own?
Johnson, 62, is currently a part-owner of MLB’s Los Angeles Dodgers and the WNBA’s Los Angeles Sparks.
Did Magic Johnson buy the Lakers?
Magic Johnson bought stake in Lakers and sold it in 2010. In June of 1994, he bought a minority stake of 4.5% in the Lakers that was worth about $10 million. Fast-forward nearly two decades and he would go on to sell the stake to a billionaire Lakers season tickets holder who had been so for the last 25 years.
Is Magic still part owner of the Lakers?
In 2010, he sold his stake in the NBA team for an undisclosed sum to Dr. Patrick Soon-Shiong, a longtime Lakers season-ticket holder.
Does Magic regret signing with Converse?
Magic Johnson Regrets Choosing Converse Over Nike: “I Would Have Been a Trillionaire” Decades ago, Converse offered him $100K a year while a less popular Nike offered stocks and $1 per shoe. It’s estimated that he missed out on over $5 billion.
How many companies does Magic Johnson own?
As of 2022, Magic Johnson’s net worth is estimated at $600 million, making him one of the richest athletes in the world. Although his investments are not limited to franchises, he owns 30 Burger King restaurants, more than a dozen 24-Hour Fitness centers, a TGI Fridays, and has multiple Starbucks licenses.
Does Magic Johnson own Converse?
The name of the shoe Johnson had was called “The Weapon”, but it was a torpedo blowing up his opportunity to be a billionaire. The worst part is that Converse got acquired by Nike, and Magic’s line is produced under Nike’s banner anyway!
How much money did Magic lose by not going with Nike?
During the episode, a graphic appears estimating that Johnson lost out on $5.2 billion. Inc., which broke down the numbers, determined that even if Knight offered Magic just $10,000 worth of Nike stock, it would be worth more than $1 billion today.
How much money did Magic Johnson make from Nike?
According to the show, Nike owner Phil Knight offered Magic $100,000 in Nike stock and a $1 royalty for every Magic shoe sold. During the episode, a graphic appears estimating that Johnson lost out on $5.2 billion.
What happens if Magic is signed with Nike?
During the episode, a graphic appears estimating that Johnson lost out on $5.2 billion. Inc., which broke down the numbers, determined that even if Knight offered Magic just $10,000 worth of Nike stock, it would be worth more than $1 billion today. Both companies were trying to sign the league’s hottest rookie.
Does Magic regret the Nike deal?
Magic Johnson is still kicking himself for choosing Converse over Nike early in his NBA career. The Los Angeles Lakers legend recently explained how he passed on signing with Nike in 1979 because the company offered him stock options.
Did Magic Johnson retire from the NBA?
In an up and down season, the Lakers found a new low on Saturday night in Denver. The Nuggets dismantled the Lakers 133-96 in a game that was never close when it mattered. 30 years to this day, Magic Johnson shocked the entire world when he held a press conference to retire from the NBA.
Is Magic Johnson still with the Lakers?
Magic Johnson hasn’t held an official position with the Lakers since 2019. His final act as team president was an impromptu resignation in front of a scrum of reporters on the final day of the season. Magic Johnson still influencing decision making for Lakers?
Who gets the Magic Johnson Trophy in NBA Finals?
The Magic Johnson trophy will be awarded to the MVP of the Western Conference Finals. Johnson’s dominance of the Western Conference as a member of the Lakers during the Showtime era of the ’80s is a fitting tribute to the Hall of Famer.
Did Magic Johnson say KD and Giannis are coming for your throne?
Magic Johnson Sends Warning To LeBron James: “KD And Giannis Are Right There Coming For Your Throne.” After LeBron James won the 2019-20 title along with the Finals MVP that season, he was widely viewed as the best player in the world.