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Magic Johnson sells Lakers for business reasons; would like to see NFL team in L.A.

Magic Johnson, speaking for the first time Wednesday since he sold his interest this week in the Lakers and Starbucks, said he made the sale "because it was a business decision."

Johnson said he has no plans on buying the Los Angeles Dodgers. He also said he has no plans on buying into the Golden State Warriors or Detroit Pistons, despite both ownership groups expressing interest in him. Johnson did have conversations with the Warriors, but that didn't lead to anything getting done.

When asked if he has any interest in bringing an NFL team back to Los Angeles, Johnson laughed long and hard before saying he hasn't have any discussions with the league, but that he "really, really wants the NFL to come back to L.A."

"Would I be interested? Of course I would be interested," Johnson said. "Have I talked to anybody about it? No. But I would love ... I would do that in two seconds."

Johnson sold his 4.5% stake in the Lakers Monday. Various reports put the Lakers worth at about $600 million and said Johnson's stake had an estimated value of $27 million.

Johnson sold his Starbucks outlets back to the company for a reported $75 million.

Johnson, 51, said he wouldn't disclose how much he made on both deals, but the numbers reported "have been inaccurate" on what he earned.

Johnson said he wanted to thank Lakers owner Jerry Buss and Starbucks Chief Executive Howard Schultz for helping him with his business ventures.

-- Broderick Turner

 

 
Comments () | Archives (31)

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Not buying the Pistons?

NIIIIIIIICE!

DONT BRING THE NFL BACK TO LA. THERE IS ALREADY TOO MUCH TRAFFIC.

Dilbeck floated the idea of Magic buying the Dodgers. An idea so crazy that it can't help but work!! Besides I like it!

Not buying the Pistons?

NIIIIIIIICE!
Posted by: Magic Phil | October 20, 2010 at 04:01 PM
----------------------
I'm with you 100% on that. I didn't think Mr. Illitch would give Magic any significant share...if/when he buys the Pistons.

Another article on Kobe's place in history. This one from Eric Pincus @ Hoopworld....

As far as top ten overall, Bryant (along with Jordan and Johnson) stands alongside greats like Abdul-Jabbar, Chamberlain, Bird, Russell, O'Neal, Robertson, Mikan, Olajuwon and Duncan.

The argument can already be made that Kobe is top five of all time, behind Jordan, Magic, Kareem and Russell.

http://www.hoopsworld.com/Story.asp?story_id=17665
--------------------------
No Wilt in top 5...is just WRONG!

*REPOST*

@Lew - thanks for posting me up on the bus as a DJ, but please delete the bartender from my title.

Being that I don't drink anymore, the only thing I would be serving up would be this...

http://www.youtube.com/watch?v=fY_FI9J1poQ

Of course, the non-alcohol original version.

Posted by: LRob | October 20, 2010 at 03:54 PM

Laker Nation this is for you: http://www.youtube.com/watch?v=pT-fgoIyg1Y

@Justa - thanks for posting that Maroon 5 article. I always liked them and now that I see that the Aaliyah/Timbaland collabo influenced Adam...I have to give them even more props.

@frmkt - you outdid yourself today!

Magic is buying something and it's going to make money again. The big question what is it and can a regular guy like me buy into it? He's being very coy and for good reason.

Okay, this may be just a tad crazy (Oh yeah! Call me CRAZY!!) BUT, Magic liquidates a lot of his assets at the same time that Dodger legend Kirk Gibson (another guy with MI connections) is doing some 'crazy' stuff. Anybody else thinkin' there may be a plot in the works for Magic and Kirk to put together a group to buy our Los Angeles Dodgers and put Kirk as the Manager?! Hmmmmm? Just sayin'...

I think Magic is consolidating so he can buy 25,000,000 of Ron's raffle tickets and finally get that sixth ring.


And the Final song from the set :
http://www.youtube.com/watch?v=sUDVj7qPqRE


LRob,

How desperate must Lebron and his marketing team at ESPN be to play the sympathy card? I can't believe there's actually an article about this. It sounds like he's saying "boo hoo, people are saying mean things to me. I'm the victim here. Please have sympathy". Just pathetic. What's he gonna do next, play the race card?

phred - "I think Magic is consolidating so he can buy 25,000,000 of Ron's raffle tickets and finally get that sixth ring."

That was amusingly unexpected. But it COULD happen.

Just remember Lebron: "Bricks and lack of backbone will lose you rings, but words will never hurt you."

LMAO Nice one Phred. We can all sigh a collective sigh of relief now- Pistons? Boooo.
Halle-Booyah!

How desperate must Lebron and his marketing team at ESPN be to play the sympathy card? I can't believe there's actually an article about this. It sounds like he's saying "boo hoo, people are saying mean things to me. I'm the victim here. Please have sympathy". Just pathetic. What's he gonna do next, play the race card?

Posted by: LAKER TRUTH | October 20, 2010 at 04:54 PM
------------------------

Truth - I think people are going overboard with the negativity, but that's just me. But yes, I agree he's definitely seeking sympathy.


Mamba - now you got yungins thinking GC stole Boys To Men song!

was it just last year when Mark Cuban posted the email addresses of people who had sent him hate mail?

I think if you are a public figure you get a tiny percentage of people who will send you hate mail or tweets or whatever. Heck, nobody who has been on this blog for more than twenty seconds is surprised by that.

I think the only thing we can learn from this isn't that Lebron has a slight victim mentality or that Lebron is isolated enough from reality that he is surprised by any of this, oh, and we can learn not to be one of those people and don't send hate mails or tweets or blog posts, cause it reflects badly on the sender, not the recipient.

Of course, i have never been entirely sure what it meant to 'play the race card,' but if there is a time to play the race card, logically if you get racist hate mail that would be it.

isn't = is. or whatever.

i lose track sometimes.

Laker Nation this is for you: http://www.youtube.com/watch?v=pT-fgoIyg1Y

Posted by: mamba24 | October 20, 2010 at 04:35 PM
-
ah...Eddie Kendricks was great!

THANKS MAMBA24!!!!

phred - "I think Magic is consolidating so he can buy 25,000,000 of Ron's raffle tickets and finally get that sixth ring."

now that was very, Very, VERY FUNNY. :-))))))))))))))))))))))))))))))))))))))))))))

"I think Magic is consolidating so he can buy 25,000,000 of Ron's raffle tickets and finally get that sixth ring."
- that's Friedman award material for sure! Very funny phred!

just watching Orlando -Dallas. howard at FT line

his shoulders r LARGER than his HEAD and almost as large as the ball.

but he still misses FT's. Hakeem could not help with Hack-a-Superman.

LMAO @phred...

Magic getting his 6th ring will go in the archives as...CLASSIC...

very funny bruh...and clever...

Lakers Dynasty - The Next Generation...

#17 Coming Up!!!


Finally M.G. this is to you :http://www.youtube.com/watch?v=j_ERYkXoOZg


I've been hearing he's going to buy a minority share of the Oakland Raiders, and eventually buy out Al Davis and become the owner (once Al dies or sells).

LRob,
-
LeBron James is a jerk.
-
Say what you will about the classlessness of Clevelanders, but they honestly as a community could not root for nor support LeBron James more than they did. I mean that literally. I do not think any community in the United States could be more committed to a singular athlete. It was an exceptional (if often unpleasant) experience to be immersed in.
-
On some level I understand LeBron's narcissism, probably any human being exposed to such adoration from youth without a proper family would be highly vulnerable to becoming a jerk as a result of SO MUCH enabling... however, I guess it would also be kind of expected that there be some sort of symbiosis happening between said narcissist (LeCreep) and sycophantic community (Northeast Ohio). LeCreep didn't seem to acknowledge that symbiosis. He will not be adored in Miami as he was in Cleveland. It's simply not possible.
-
Anyhow, now that the cancer has moved to the hopefully-soon-to-be-underwater South Florida, I hope the Cavs have some degree of success. As rough as living in Ohio was on me, being away from it has increased my sympathy for the community.
-
In the grand scale of things, it seems like it would be just if one time, just one time, they could come out on top for a change.
-
What do we play for? RINGS!!!
-
Lakers Today... Lakers Tomorrow... Lakers Forever.
-
GO LAKERS!!!

I still think the Pistons are in play for Magic, Illitch may have problems closing the deal. But I like the idea posted above about Kirk Gibson and Magic buying the Dodgers. Or maybe they will buy the Pistons and the Palace since they are both MI natives.

Roski's stadium in the City of Industry and Magic Johnson would make a nice team to bring the NFL back to LA. Roski's stadium would be the best venue. See the website losangelesfootballstadium dot com for info on the proposed stadium.


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