“$200,000 a Year”: ‘Broke’ Magic Johnson’s Father Prevented 6ft 9′ Son From ‘Hastily’ Losing $25 Million

Magic Johnson is one of the most revered players in the history of basketball. Known for his size, skill, and amazing passing ability, he wowed the NBA for 13 seasons, playing for the LA Lakers.

Entering the league in 1979, Magic was a superstar from the get-go, averaging 18 points, seven rebounds, and seven assists. All, en route to helping the Lakers win their first NBA Championship in eight years.

However, the legend that is the Showtime Lakers was quite close to never happening. After all, if it wasn’t for his father, Johnson may have been drafted a year later by the Kansas City Kings.

Magic Johnson nearly settled for $200,000 a year, but was prevented from doing so by his father

In 1978, the college basketball scene was dominated by two players, Magic Johnson and Larry Bird. That same year, Larry Legend was drafted sixth overall by the Boston Celtics. A pick that would go down in history.

Many expected Magic Johnson to also declare for the draft. And, he was close to doing so. Especially, seeing as the Kansas City Kings, later known as the Sacramento Kings were interested in drafting him. They even tabled a $ 200,000-a-year offer.

A huge amount of money, one that a “broke” Johnson was ready to take. However, his father, a voice of reason prevented him from doing so.

“Kansas City had the No.1 pick. So, they called me and said, ‘Hey, we want to draft you No.1’. They were the Kansas City Kings at that time. So, I flew down and met with a dude named Joe Ackerson, the General Manager, and he said, ‘Hey! I wanna give you a six-year deal, $200,000 a year!’. So, I got excited, I’ve been broke my whole life. I’m like, ‘Oh man! This is great!’. And, so I jumped up and said, ‘I think that’s good!’. My father grabbed me and he pulled me, drove me outside, and said, ‘Hold on. We’ll be right back’. He said, ‘You’ve been broke for 18 years, you can be broke one more year!’. I said, ‘Yes sir!’”

After that, the rest is history. Magic went back to college for one more year, perhaps the smartest decision he made. Why? Because it ended up with him earning $25 million with the Lakers.

Magic was offered a 25-year contract worth $25 million from the LA Lakers

With his rejection of the Kansas City Kings, not only did Magic Johnson earn $260,000 more with his Lakers rookie deal, but he was also in for quite a surprise in 1984. After all, the five-time NBA Champion was handed a massive 25-year contract from the purple and gold. One worth $25 million.

In 1984, Lakers owner Jerry Buss signed Magic Johnson to a 25-year contract for $1 million a year. The contract ran through the year 2009. It was at that time the richest & longest in sports. Don’t be mad at Scottie Pippen, even one of the greatest businessman ever had a bad deal pic.twitter.com/1exptu2k1b

— Tim Doyle (@TimDoyle00) April 21, 2020

It was a deal that made headlines, and for good reason. A 25-year deal isn’t something you see every day. But, considering the caliber of Magic Johnson, it isn’t that surprising.