Quick Facts: Magic Johnson & the Lakers
| Does He Own Lakers Stake Today? | No — sold in October 2010 |
| Original Lakers Stake | 4.5%, bought 1994 for $10 million |
| Sold To | Patrick Soon-Shiong |
| Current Lakers Owner | Mark Walter (controlling, since Oct. 2025); Buss family retains ~15% |
| Johnson’s Current Team Stakes | Washington Commanders (NFL), LAFC (MLS), LA Sparks (WNBA), LA Dodgers (MLB), Team Liquid (esports) |
| Net Worth | Billionaire status confirmed by Forbes, 2023 |
Is Magic Johnson Still a Part Owner of the Lakers?
No. Magic Johnson has not owned any stake in the Los Angeles Lakers since October 2010.
He bought a 4.5% stake in the team back in 1994 for about $10 million — a stake tied to the Buss family’s ownership era. He sold that stake in 2010 to Patrick Soon-Shiong, the biotech billionaire who also owns the Los Angeles Times.
This surprises a lot of people, since Johnson is still closely associated with the Lakers as a legend, former front-office executive, and constant media presence around the team. But ownership-wise, that relationship ended over 15 years ago.
When I checked the current cap table for this piece, the actual Lakers owner today is Mark Walter, who completed a majority buyout from the Buss family in October 2025 at a $10 billion valuation — the Buss family kept roughly 15%, with Jeanie Buss staying on as governor.
What Magic Johnson Actually Owns Today
Even without a Lakers stake, Johnson has built one of the more diversified sports-ownership portfolios of any retired athlete.
He holds a stake in the NFL’s Washington Commanders, joined as an investor in MLS’s Los Angeles FC (LAFC) at its founding, owns part of the WNBA’s Los Angeles Sparks alongside Mark Walter (the same Walter now running the Lakers), and holds roughly 2.3% of the Los Angeles Dodgers through his $50 million investment in the Guggenheim Baseball Management group.
He’s also invested in Team Liquid, one of the biggest esports organizations, showing his portfolio extends well beyond traditional stick-and-ball sports.
Why the Confusion Persists
Johnson served as the Lakers’ President of Basketball Operations from 2017 to 2019 — an executive front-office role, not an ownership stake — which likely reinforced the public perception that he still owned part of the team.
He also remains a frequent presence at Lakers games and in Lakers-related media coverage, given his stature as arguably the franchise’s greatest player.
Key Ownership Highlights
- The sale happened in 2010, not recently: Johnson sold his 4.5% Lakers stake to Patrick Soon-Shiong 15+ years ago — well before the team’s most recent ownership shakeup.
- His front-office role added to the confusion: His 2017-2019 stint as President of Basketball Operations was an executive job, unrelated to any equity stake.
- He co-invests with the Lakers’ new owner elsewhere: Johnson and Mark Walter are business partners in the WNBA’s Sparks and MLB’s Dodgers, even though Johnson has no Lakers stake and Walter now controls the Lakers.
- His sports portfolio is genuinely broad: Commanders, LAFC, Sparks, Dodgers, and Team Liquid span four major leagues plus esports — arguably a more diversified ownership footprint than most single-team owners.
- The Lakers’ 2025 sale dwarfs his old stake: Mark Walter’s $10 billion valuation in the 2025 deal makes Johnson’s 1994 4.5% stake purchase for $10 million look almost quaint by comparison.
Frequently Asked Questions
Does Magic Johnson still own part of the Lakers?
No. He sold his 4.5% ownership stake in October 2010 to Patrick Soon-Shiong and has had no Lakers equity since.
Who owns the Lakers now?
Mark Walter is the controlling owner as of October 2025, after buying out most of the Buss family’s stake in a $10 billion deal. The Buss family retained about 15%, and Jeanie Buss continues as governor.
What sports teams does Magic Johnson own today?
He holds stakes in the Washington Commanders (NFL), LAFC (MLS), Los Angeles Sparks (WNBA), Los Angeles Dodgers (MLB), and Team Liquid (esports).
Why do people think Magic Johnson still owns the Lakers?
Likely because he served as the team’s President of Basketball Operations from 2017-2019 (an executive role, not ownership) and remains a constant public presence around the franchise.
When did Magic Johnson first buy a Lakers stake?
In 1994, he purchased a 4.5% ownership stake for approximately $10 million.
