Is Magic Johnson Still a Part Owner of the Los Angeles Lakers?

Magic Johnson, one of the most iconic figures in basketball history, has a deep connection to the Los Angeles Lakers franchise. His legacy as a player, executive, and ambassador for the team is undeniable. However, the question that often arises is whether Magic Johnson is still a part-owner of the Lakers. As of 2025, Magic Johnson is no longer a part-owner of the Los Angeles Lakers, but his relationship with the team remains significant because Magic Johnson is the new owner of the Dodgers.

The Ownership Change

To understand Magic Johnson’s current relationship with the Lakers, it’s important to look back at the ownership transition. In 2010, Magic Johnson sold his 4.5% stake in the Lakers to Dr. Patrick Soon-Shiong, a prominent billionaire and owner of the Los Angeles Times. This sale marked the end of Johnson’s financial ownership in the franchise, although he continued to have a significant influence on the Lakers in other ways.

Magic Johnson was initially part of a group of investors that purchased a share in the Lakers back in the 1990s. His role as an owner, however, did not last long. Johnson’s time as an owner was marked by a significant shift in the team’s direction and culture, but his exit from the ownership group didn’t diminish his bond with the Lakers. Instead, he remained deeply involved in the team as an executive and eventually took on an ambassadorial role.

Magic Johnson’s Departure from the Ownership Group

In 2010, Johnson sold his stake in the Lakers, a decision that raised some eyebrows. The sale was part of his broader business strategy as he began to focus on other ventures, including his ownership interests in the Los Angeles Dodgers and his various business enterprises. His decision to step away from the ownership of the Lakers was a personal one, and since then, Johnson has remained closely associated with the team in various capacities.

Despite no longer being a financial stakeholder in the Lakers, Magic Johnson’s legacy as one of the franchise’s greatest players is undeniable. His impact on the Lakers cannot be understated. Johnson is considered by many as the face of the franchise during the 1980s, leading the team to five NBA championships and becoming one of the most recognizable athletes in the world. His leadership on and off the court helped establish the Lakers as a global brand.

Recent Changes in Lakers Ownership

Fast forward to 2025, the Lakers underwent a major shift in ownership. In June of that year, the Buss family agreed to sell the majority stake of the Lakers to Mark Walter, the CEO of TWG Global, in a landmark deal that valued the team at a record $10 billion. This deal set a new benchmark for the sports industry, solidifying the Lakers as one of the most valuable franchises in the world.

Is Magic Johnson part part-owner of the Dodgers?

While this transaction brought a new era of ownership to the Lakers, Jeanie Buss, the daughter of the late Jerry Buss, retained a significant role in the team. She continues to serve as the team’s governor, ensuring that the Buss family’s legacy remains intact within the organization. Jeanie also retained at least a 15% ownership stake, as required by the NBA’s ownership rules. The deal also solidified the relationship between Mark Walter and Magic Johnson, who are business partners in their ownership of the Los Angeles Dodgers.

Magic Johnson’s Role Today

Even though Magic Johnson is no longer an owner of the Lakers, his influence remains strong. Johnson continues to maintain a close relationship with the team, offering guidance and support to the current ownership group. His status as a former player and executive with the Lakers allows him to have an enduring connection to the franchise, even without financial ownership.

Johnson’s impact on the Lakers’ culture and brand continues to resonate. He remains a respected figure within the NBA community and is often involved in various charitable efforts related to the sport. Magic Johnson’s continued public support for the Lakers speaks volumes about his ongoing commitment to the team, even though he no longer has a direct stake in the franchise’s financial success.

The Future of Magic Johnson and the Lakers

As for Magic Johnson’s future involvement with the Lakers, it’s likely that his role will continue to evolve. Although he no longer holds ownership, his status as a global ambassador for the team cannot be understated. His business acumen and ability to build successful partnerships will likely keep him connected to the Lakers in one form or another.

Johnson has shown time and time again that his love for the Lakers transcends ownership. His legacy as a player is firmly cemented, and his continued influence on the team and the broader sports world suggests that he will always have a place with the Lakers, regardless of his ownership status.

In conclusion, Magic Johnson is no longer a part-owner of the Los Angeles Lakers. While he sold his stake in the team in 2010, his legacy and impact on the franchise remain as strong as ever. As the Lakers enter a new era under the leadership of Mark Walter and Jeanie Buss, Magic Johnson’s presence continues to be felt in the form of his public support and his lasting influence on the team’s culture. Despite not being financially involved, Johnson will always be remembered as a key figure in the Lakers’ storied history.