This is the only NBA team Magic Johnson would consider owning and why

Abu Mubarik September 29, 2023
Magic Johnson: Photo credit: Wikimedia Commons/ Daniel Benavides from Austin, TX

For many years, Magic Johnson has turned down the opportunity to own teams such as the Golden State Warriors, Detroit Pistons, and Atlanta Hawks due to his love for his Los Angeles Lakers. This love has kept him away from considering any other NBA team until recently.

The NBA legend told The Associated Press (AP) in an interview that the New York Knicks would be the one franchise that could make him have second thoughts.

“I think it would be intriguing,” Johnson said. “The only team I would actually probably think about is the New York Knicks.”

According to him, the Knicks offer something different, adding that the team has smart fans. “I think because of the way fans love basketball you might have to think about that one, because I love coming to New York and going to the Garden and watching the Knicks play,” Johnson said to The Associated Press. 

“I love being with fans who are so passionate about their team and the Knick fans are, and they’re smart. They’re smart basketball fans and so that one I would have to think about. I think that other than that, I would probably never think about ever being a part of another franchise.”

Currently, Johnson has stakes in the Los Angeles Dodgers baseball team and the Los Angeles Sparks Women’s National Basketball Association team. Also, he is the co-owner of the Washington Commanders. Johnson was part of a group of investors led by billionaire Josh Harris that successfully acquired the NFL team. The $6 billion deal, according to NBC News, was unanimously approved by NFL owners to end Daniel Snyder’s ownership of the team. 

Since retiring from the NBA, Johnson has made one business move after the other. He has over 100 Starbucks stores in several cities, including Los Angeles, New York, Seattle, Chicago, Denver, Detroit, Atlanta, San Diego, Washington D.C., and San Francisco. Additionally, he owned several Burger King restaurants in diverse locations. In 2004, he bought 30 Burger King restaurants in Atlanta, Birmingham, Dallas, and Miami, and later sold them for $15 million, The Sports Rush reported.

In 2015, Johnson made a big push into the financial services sector. He added a 60% acquisition of a Life Insurance Company to his business portfolio. At the time he made the acquisition, USA Today reported that EquiTrust Life Insurance Company managed $14.5 billion in annuities, life insurance, and other financial products.

Last Edited by:Mildred Europa Taylor Updated: September 29, 2023


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