$620 Million Worth Magic Johnson, Who Is a Part Owner of Dodgers and Sparks, Could Buy a New NFL Franchise in a Record-Breaking Deal

Magic Johnson is one of the most legendary players that the Los Angeles Lakers ever housed. In the illustrious history of the LA side, Johnson was one of their most prized possessions. The 12-time All-Star was in his prime almost all the time he was in the Lakers, winning five NBA Championships with them. The Lakers legend retired early due to health issues but has turned the world around for himself.

Since the Lakers titan retired, Johnson has converted his $40 million worth of earnings into a $620 million fortune. And his many investments include sports teams, such as the Los Angeles Dodgers and the Los Angeles Sparks. Johnson has now turned his head towards another team in the NFL to expand his business.

Lakers Legend reportedly in talks to buy a stake in Las Vegas Raiders

The five-time NBA champion opened up his own investment company after retirement, ‘Magic Johnson Enterprises’. The company focuses its investment in various sectors, making a lot of money for the NBA Hall of Famer.  The company focused on sports as the basketball legend had made a lot of connections over the years to have access and connections to invest a lot of money in such places.

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According to Liz Hoffman of Semafor, the Los Angeles Lakers legend has reportedly decided to buy a stake in the NFL’s Las Vegas Raiders. And it could turn out to be one of the biggest sports deals in history.

According to Forbes, back in August, the Raiders owner, Mark Davis received an offer for a minority stake in the $6.5 billion worth NFL team from an unknown source which solidifies interest in the club’s part ownership. And connecting the dots could lead to the conclusion that the NBA Hall of Famer is interested. If this deal goes through, it would reportedly break any records of previous stake ownership deals in pro sports history.

Magic Johnson also invested in a part stake for the LAFC, in MLS, making his way through soccer as well. LAFC is valued at $700 Million in 2020.

Magic Johnson Enterprises in three decades

The 12-time NBA All-Star had to retire from the sport earlier than he would have, his health being the issue. But Magic Johnson Enterprises has made him a fortune by putting their eggs in the right basket.

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In addition to the sports teams, Magic Johnson Enterprises’ investments include 125 Starbucks stores, 31 burger kings, 24-hour fitness, and insurance companies. The company was the first outside investment in Starbucks which changed menus to cater to the people in the locations.