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

October 20, 2010 |  3:40 pm

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

 


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