NBA legend Earvin “Magic” Johnson is one of basketball’s greatest stars – but arguably his biggest achievement has come off the court.
In fact, it is not even related to basketball, following the announcement Johnson will be the co-owner of an NFL team.
3
Magic Johnson is one of the greatest NBA players of all timeCredit: Getty
3
He is now set to take over at the Washington CommandersCredit: Getty
The retired sportsman-turned business mogul has seen a joint bid accepted to take over the Washington Commanders.
Johnson, 63, tweeted: “I am currently living in an answered prayer.
“Since beginning my journey as an athlete and now businessman and team owner, it’s all been a dream that has come full circle.
“I grew up playing football as a kid, I’m a huge NFL fan, and I watch games every week.
“Now, I get to co-own a storied franchise, the Washington Commanders.”
Johnson teamed up with Philadelphia 76ers owner Josh Harris and private equity investor David Blitzer in a bid to buy the Commanders.
And in April they struck a $6.05BILLION deal with current owner Dan Snyder to make it the most expensive franchise purchase in sports history.
NFL commissioner Roger Goodell rubber-stamped the historic takeover and confirmed it in a statement.
Goodell said: “Congratulations to Josh Harris and his impressive group of partners.
“Josh will be a great addition to the NFL. He has a remarkable record in business, sports, and in his communities.”
Johnson retired from basketball in 1996 with five NBA championships and three MVP awards to his name.
Since hanging up his sneakers, he has built a $1bn business empire investing in Starbucks, Burger Kings, gyms, and EquiTrust Insurance.
Johnson also poured money back into the Lakers, buying a 4.5 percent stake in the team in 1995 for $10m.
He would later sell for $50m in 2010 and has also invested in Los Angeles sports clubs including soccer team LAFC, the Sparks, and the Dodgers.
Magic Johnson Enterprises is estimated to have holdings in excess of $1bn.
3
Magic Johnson is one of the best players in NBA history and has built a business empireCredit: AP
News
RULE BREAKER I’m A Celeb fans convinced campmate is ‘breaking rules’ after spotting big clue in camp
I’M A Celeb fans are convinced that a campmate is ‘breaking rules’ after they spotted a big clue in camp. Tulisa of N-Dubz fame is one of the contestants on…
Artem Chigvintsev ignores Nikki Bella’s accusations and makes a surprising return on Dancing with the Stars.
Artem Chigvintsev is making his highly anticipated return to Dancing with the Stars (DWTS), just months after navigating a difficult and highly publicized divorce. The professional dancer, who is…
Giovanni Pernice and Bianca Guaccero Address Dating Rumors After Being Spotted ‘Cuddling’ in Rome.
Giovanni Pernice, the popular Strictly Come Dancing professional dancer, has found himself at the center of romance rumors after being spotted in an intimate setting with actress and TV…
Giovanni Pernice set for surprise Strictly return
Former Strictly Come Dancing professional Giovanni Pernice may make a return to the ballroom. While Giovanni stepped down from the BBC One series earlier this year, he could…
Eamonn Holmes says he’s ‘desperately begging’ for Ruth Langsford’s love because he now feels regret after finding out the child his mistress had isn’t biologically his!
Eamonn Holmes made a light-hearted comment in the past, saying if his wife Ruth Langsford cared for him like she does their rescue dog, Maggie, he would…
Here’s How Liam Payne’s Net Worth Compares to the Rest of One Direction
You probably know which member had the most successful solo career. All products and services featured are independently chosen by editors. However, StyleCaster may receive a commission…
End of content
No more pages to load
