Magic Johnson Sells His Share Of The Lakers

Can’t say that I’m surprised by the news that Magic Johnson has sold his share of the Lakers. Magic has made no secret that he’s interested in being a majority owner of an NBA franchise. He was rumored to be involved with groups that attempted to buy the Detroit Pistons and Golden State Warriors earlier this year. Magic had this to say on his decision:

“After heavy deliberation and a weighing heart, I have decided to sell my share of the Lakers to Dr. Patrick Soon-Shiong. Dr. Soon-Shiong is a super Lakers fan, an outstanding businessman, a dedicated philanthropist and one of the most active community leaders in Los Angeles,” said Johnson. “I am truly humbled to have been a Lakers player for 13 years and an owner for over 10 years. I thank Dr. Buss from the deepest part of my heart and soul for allowing me such an incredible opportunity. I will continue to work alongside Dr. Buss, Jeanie Buss and Mitch Kupchak in their efforts to continually build and maintain the best NBA franchise in the league. This was a bittersweet business decision made on behalf of my family and myself, and I want to assure all the wonderful and loyal Lakers fans that my decision will in no way affect my dedication and support for the Los Angeles Lakers. I am and will always be a Laker for life.”

New minority owner Dr. Soon-Shiong was a Lakers’ season seat holder for more than 25 years, is Chairman of the Chan Soon-Shiong Family Foundation, Chairman and CEO of All About Advanced Health and founder of the National Coalition for Health Integration. He is the Executive Director of the UCLA Wireless Health Institute and Professor of Microbiology, Immunology, Molecular Genetics and Bioengineering at UCLA.

The Buss family is unlikely to sell their majority share of the Lakers franchise and if they do, I’m quite certain AEG, they own L.A. Live, The Home Depot Center and that building the Lakers call home, Staples Center; would be the 1st choice. I wonder why they didn’t purchase Magic’s share…

Good Luck to Magic, he’s transformed the idea of a post athletes’ career with his business savvy. Whatever his next move is, I’m sure he’ll be successful. He’s a Laker for life no matter what.

*You think Kobe is a little happy that he doesn’t have to deal with Magic as often anymore?? WHAT?? It’s just an observation.

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