Magic Johnson has turned down ownership opportunities with the Golden State Warriors, Detroit Pistons, and Atlanta Hawks for many years owing to his devotion to the Los Angeles Lakers. Until recently, this devotion had precluded him from contemplating any other NBA franchise.
The NBA great told The Associated Press (AP) in an interview that the New York Knicks were the only team that could make him reconsider his decision.
“I think it would be intriguing,” Johnson said. “The only team I would actually probably think about is the New York Knicks.”
According to him, the Knicks offer something different, adding that the team has smart fans. “I think because of the way fans love basketball you might have to think about that one, because I love coming to New York and going to the Garden and watching the Knicks play,” Johnson said to The Associated Press.
“I love being with fans who are so passionate about their team and the Knick fans are, and they’re smart. They’re smart basketball fans and so that one I would have to think about. I think that other than that, I would probably never think about ever being a part of another franchise.”
Johnson currently owns the Los Angeles Dodgers baseball team as well as the Los Angeles Sparks Women’s National Basketball Association team. He is also a co-owner of the Washington Commanders. Johnson was a member of the group of investors led by millionaire Josh Harris that successfully purchased the NFL team. According to NBC News, NFL owners unanimously accepted the $6 billion plan to end Daniel Snyder’s ownership of the franchise.
Johnson has made one business move after another since leaving the NBA. He owns and operates over 100 Starbucks locations in places such as Los Angeles, New York, Seattle, Chicago, Denver, Detroit, Atlanta, San Diego, Washington, D.C., and San Francisco. He also owned multiple Burger King restaurants in various areas. According to The Sports Rush, he purchased 30 Burger King shops in Atlanta, Birmingham, Dallas, and Miami in 2004 and eventually sold them for $15 million.
Johnson made a significant push into the financial services business in 2015. He expanded his business portfolio by acquiring a 60% stake in a life insurance company. At the time of the transaction, EquiTrust Life Insurance Company oversaw $14.5 billion in annuities, life insurance, and other financial products, according to USA Today.