NBA legend Earvin “Magic” Johnson has expanded his interest in sports business with the addition of Washington Spirit, a professional women’s soccer team.
Johnson, a 5 time NBA champion with multiple successful business ventures, joined the Washington Spirit as an investor, the team announced Thursday, bringing his winning mentality from the NBA to soccer.
Johnson’s investment in the Washington Spirit adds to his sports business portfolio, which includes NFL’s Washington Commanders, MLB’s Los Angeles Dodgers, WNBA’s Los Angeles Sparks, MLS’ Los Angeles FC and Team Liquid, an eSports franchise, as per Forbes.
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Johnson’s investment in the team comes two years after Michele Kang bought the team from Steve Baldwin, who sold it following allegations of players being emotionally abused, Forbes reported. In a statement, the NBA legend said he was excited to join the Washington investor group.
“I’m excited to join the Washington Spirit’s investor group at such a pivotal time in the club’s history,” Johnson said in a statement, according to NBC Washington. “Partnering with a visionary like Michele Kang and her team to advance the growth of the Washington Spirit and the NWSL is an incredible opportunity. I’m excited to join the team and play my part to help elevate this organization.”
“From the basketball court to the boardroom, Earvin knows how to win, and we are delighted to count on his expertise as part of our fantastic investor group,” said Kang.
“His commitment not only reflects the strength of our club, players, fans and brand, but also sends a powerful message about the growth and impact of women’s sports globally. Together, we look forward to taking the Washington Spirit to new heights and inspiring the next generation of young women and girls worldwide.”
Johnson is an NBA Hall of Famer who was first inducted in 2002 for his individual career, and again in 2010 as a member of the Dream Team. His illustrious career in the NBA spanned seventeen years, from 1979 to 1996.
First drafted in 1979, Johnson entered the league and played point guard for the Lakers for 13 seasons. His career achievements include three NBA MVP Awards, nine NBA Finals appearances, 12 All-Star games, and 10 All-NBA First and Second Team nominations.
While enjoying his career as an NBA player, Johnson had an eye for business. His desire to become a businessman when his basketball career ended made him build a connection with legendary super-agent, Michael Ovitz, to teach him how to be a successful businessman.
Ovitz initially rejected his offer because he wasn’t keen on entering the sports business. Being told ‘no’ stunned Johnson, who submitted “it was the first time Magic didn’t matter.”
However, he wasn’t deterred and remained persistent in persuading Ovitz to help him acquire the skills to excel in business. When Ovitz advised him to consume content from Bloomberg, The Financial Times, and The Wall Street Journal; and train like an enrolled graduate student committed to enduring a rigorous regime, Johnson was up to the task and proudly availed himself.
Several years later, he has made his mark as one of the leading Black entrepreneurs and a prolific investor with multiple businesses under the umbrella of Magic Johnson Enterprises, which is worth an estimated $1 billion across various industries, according to its website.
