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NBA legend and prosperous businessman Magic Johnson is part of the new ownership group of NFL team Washington Commanders. Johnson is one of the minority owners of the Commanders in a group led by Josh Harris.
Johnson owns four percent of the Washington Commanders. The ownership group is led by Harris who also owns other sports teams like the Philadelphia 76ers. He invested $242 million to purchase the stake.
The Harris-led group purchased the team for a record $6.05 billion. The Commanders were for sale after disgraced owner Dan Snyder was forced to sell the team after multiple scandals and allegations of workplace harassment.
Johnson is one of many minority owners who joined the purchase group to buy the Commanders. The former LA Lakers star has a reported net worth of $620 million.
Which other sports teams does Magic Johnson own?
Magic Johnson is heavily invested in many sports teams. He's a minority owner of multiple ownership groups across a variety of North American sports.
In 1994, he began his sports ownership business ventures. He purchased 4.5 percent of the LA Lakers for $10 million before selling his stake in 2010 for an estimated $27 million.
Johnson also has ownership in the MLB. In 2012, he invested $50 million to purchase a 2.3 percent stake in the famous baseball team Los Angeles Dodgers. They're now worth a reported $4.8 billion. Johnson was part of a group that bought the team for $2 billion in 2012.
He has also invested in the WNBA and MLS, too. In 2014, he bought a minority stake in the MLS soccer club LAFC and also bought a stake of the women’s basketball team LA Sparks. LAFC was listed as the most valuable team in the MLS at $1 billion before Lionel Messi entered the league.
Johnson is invested into esports as well. He's a partner with aXiomatic. The company owns Team Liquid, which was valued at $440 million in 2022.
He has other business ventures, too. Johnson previously owned and started a production company and record label. He runs Magic Johnson Enterprises, a business conglomerate. It has a net with of $700 million. It runs his chain of movie theaters and his production company. He sold his movie theater chain in 2004.
He also purchased 125 Starbucks locations in 1998, which he eventually sold back to Starbucks in 2010.
