LA Lakers legend Magic Johnson might not have a net worth that is comparable to the likes of Michael Jordan. However, he has still made multiple sports franchise investments in recent years. This includes ownership stakes in the Washington Commanders, the Los Angeles Dodgers, the Los Angeles FC, and the Los Angeles Sparks. The Commanders are notably worth a whopping $6,000,000,000 With a net worth of $620,000,000, Magic already has ownership stakes in the MLB, the WNBA, the MLS, and the NFL. In a recent interview with Today, Johnson claimed that he will be open to buying a stake in an NHL team, next.
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Magic retired back in 1996 with career earnings of slightly less than $40 million. Since then, he has made multiple highly lucrative investments. This includes movie theatres, sports clubs, and a whopping 31 Burger King restaurants. Furthermore, he also has stakes in other establishments such as Sodexo and T.G.I Fridays.
Magic Johnson sets his sights on the NHL after multiple sports franchises
Speaking to Today, Johnson claimed that it was his responsibility as a black man to break barriers. He wants to make sports more inclusive which is one of the reasons behind his multiple franchise investments.
He currently has notable stakes in the Washington Commanders, the Dodgers in the MLB, the Los Angeles FC in the MLS, and the Los Angeles Sparks in the WNBA. Despite this, when asked whether he would want to invest in an NHL team, Johnson responded with a resounding yes:
“I would look at it, for sure. Listen, breaking these barriers, just going through these doors, is important to me. As a proud Black man you’ve got me choking up now. This is a great opportunity. I don’t know why God blessed me with these opportunities, but I’m going to excel, not only for myself, but my family, but for all African Americans, making sure we can see in these seats. And I want people to know that we can do the job.”
Johnson obviously views any potential opportunity as a chance to break barriers. The 63-year-old considers it his responsibility to make sports more inclusive for African-Americans and is already doing a commendable job.
Magic has an impressive portfolio and a net worth of $620 million
With NBA career earnings of just $40 million, Magic Johnson’s current net worth is no doubt impressive. It has come as a result of some smart investments in foolproof companies.
This includes the likes of T.G.I. Fridays and Sodexo. Johnson’s 31 Burger King restaurants along with his other investments mean that he still has an active revenue stream, all these years after his retirement.
Now, with his intention to invest in an NHL team, Johnson will only increase his net worth in the long term. Unlike his other investments, Magic’s sports investments are not just about the financials, as Johnson emotionally explained in his interview.
