$1 Billion News Set to Make Magic Johnson, Will Ferrell, and Other Celebrities Manifolds Richer

Magic Johnson has established himself as a successful business magnate since he retired from the league. The Los Angeles Lakers legend began his journey into the business world by investing in multinational brands like Starbucks and Burger King. At the same time, Johnson has shown a great deal of commitment toward the upliftment of the community. For his journey, Magic has also made some considerable investments in the field of sports that have helped him earn a massive fortune worth $620 million. Recently, a one billion-dollar sports franchise is on course to increase the net worth of Magic Johnson, Will Ferrell, and other celebrities by manifolds.

Magic Johnson has invested a significant amount of money in sports franchises. In 1995, Johnson invested $10 million in a 4.5% stake in the Los Angeles Lakers. Shockingly, the five-time NBA champ earned an estimated $40-50 million when he sold his stake in 2010. After winning big with the Lakers on and off the field, Johnson invested in other sports ventures. One such sports venture is set to take his net worth to the next level.

Magic Johnson wins big as a result of sports investment

According to Forbes, “LAFC is worth @1 billion, just nine years after it joined MLS for an expansion dee of $110 million, making it the league’s first billion-dollar franchise.” The intriguing financial growth of the Los Angeles Football Club is great news for Magic.

Apparently, Johnson teamed up with Hollywood legend William Ferrell and Brooklyn Nets owner Joe Tsai to make a massive purchase in 2012. The deal helped the Lakers legend and partners become part-owners of the LAFC and the LA Sparks. Moreover, Johnson also invested $50 million in the LA Dodgers in a deal worth $2 billion.

Luckily for Johnson, he saw a great investment opportunity to invest in Major League Soccer, which has grown rapidly over the last decade. Moreover, the LAFC is having a sound financial run since they won the MLS championship in November last year.

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A few days ago, the LAFC made a $100 million, ten-year deal with the Bank of Montreal for the naming rights of the BMO Stadium. And now, the franchise’s worth has risen rapidly to become the first billionaire franchise in the MLS.

LAFC displays unbelievable financial growth

Magic Johnson made one of the smartest business decisions by putting his money on the LAFC, during their early years of the league. Reports suggest that the LAFC’s worth has more than doubled since 2019, when the franchise’s estimated worth was $475 million. Thus, Johnson’s soccer franchise has seen an incredible $625 million growth in the last three years.

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Moreover, the MLS has grown exponentially since it first started in 1996. Beginning with 10 teams, the league now has 29 teams, and the average team valuation has increased by 85% since 2019. Thus, Magic Johnson made a great choice to invest in the LAFC, whose worth is expected to increase in the coming years, given the league’s popularity.