Blog Entry

Magic Johnson wants to own NBA or NFL team?

Posted on: October 21, 2010 12:24 am
Edited on: August 14, 2011 7:56 pm
 
Los Angeles Lakers legend Magic Johnson tells the Los Angeles Times that he will investigate the options for owning a professional sports team. Posted by Ben Gollivermagic-johnson It's been a busy week for Los Angeles Lakers legend and NBA Hall of Famer Magic Johnson.  First, he sold his 4.5% ownership stake in the Lakers on Monday. Then, on Tuesday, Johnson announced he was liquidating his Starbucks ownership assets, worth more than $100 million.  Tonight comes word from Broderick Turner of the Los Angeles Times that Johnson will continue to serve in his role as Vice President of the Lakers but that he is interested in becoming a majority owner of a professional sports team but that several rumored deals have not developed or progressed.
Johnson said Wednesday he will "look at every opportunity" in the future to become a majority owner of a sports team, but that he hasn't joined forces with anybody yet. However, Johnson said he wants to play a role in bringing the NFL back to Los Angeles. "I talked with Golden State. I will talk with [Ilitch about] Detroit," Johnson said. "Just because you talk, that doesn't mean you are going to do a deal. But I'll be looking at every opportunity because I'm a businessman and that's what I do. I look at deals every day."
Turner notes that Johnson says he hasn't yet had any discussions regarding bringing a National Football League team back to Los Angeles, but that he "really, really wants" the NFL to return to the city. Johnson also is quoted as saying that he would welcome discussions regarding the NFL "in two seconds." It has been 15 years since the NFL had a franchise in Los Angeles. The NFL's Rams franchise left Los Angeles for St. Louis in 1995. The NFL's Raiders franchise left Los Angeles for Oakland in 1995.
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hotmeuly
Since: Dec 2, 2011
Posted on: December 21, 2011 11:36 am
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peulouy
Since: Dec 2, 2011
Posted on: December 19, 2011 6:19 am
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Since: Dec 2, 2011
Posted on: December 8, 2011 6:35 pm
 

Magic Johnson wants to own NBA or NFL team?

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Since: Oct 21, 2010
Posted on: October 21, 2010 11:13 pm
 

Magic Johnson wants to own NBA or NFL team?

The Bills are not struggling and have a large fan base that includes Rochester and Toronto. The team itslef is lousy, but they get good support and usually sell out. They won't be moving.



Since: Dec 5, 2006
Posted on: October 21, 2010 1:26 pm
 

Magic Johnson wants to own NBA or NFL team?

Welcome to CBSSports.com, Ben. There is rampant speculation over Magic's intentions now and he does appear to be liquidating assets. From what I have read in the past, Magic has extensive business holdings still unliquidated. But for all the speculation about the NFL it is hard to imagine Magic with anything other than the NBA unless he has opportunity to acquire both as Paul Allen has with the Portand Trail Blazers and the Seattle Seahawks.

The NFL team most attribute to being able to be acquired and moved might be the Buffalo Bills. Now splitting their season between Buffalo and Toronto the Bills are demonstrating the reported difficulty of maintaining an NFL team in a small-market city. It would be sad for Buffalo. And puzzling because the NFL shares most of its revenue making it easy for small-market teams to survive. Further complicating the possible move to Los Angeles of an NFL team is the failure by both the Rams and the Raiders in that city.

The NBA team most succeptable to acquisition is Sacramento Kings. The Kings have finally ceased efforts to acquire an updated arena to replace the venerable Arco Arena as the local and state politics coupled with the recent economy decline have made staying in Sacramento unlikely. Are the Maloof brothers looking to sell? They are reportedly billionaires but their wealth is ensconsed in Las Vegas, now suffering its greatest economic decline in many decades. Are they needing liquidity to maintain their current projects? One can only speculate. It is sad for Sacramento. But Anaheim and San Jose both have empty NBA-quality arenas available to accomodate a move. Seattle may also be ready now to build new NBA arena having lost the Sonics. Seattle is a major market already mature in NBA which has held the Sonic name and logos for a replacement team. Perhaps a suburban location away from the old Key Arena will be profitable.

It is fun to speculate but only one man knows for sure what plans he has and he may spring them upon us like Magic!



Since: Sep 1, 2006
Posted on: October 21, 2010 11:45 am
 

Magic Johnson wants to own NBA or NFL team?

Don't leave out the Tampa Bay Yucks!


3-2 for the season. Tied for first in there division. Better record then supposed powerhouse superbowl favorites. Oh and they have won a Superbowl this decade.

So much for Yucks hey?




Since: Feb 14, 2008
Posted on: October 21, 2010 11:44 am
 

Magic Johnson wants to own NBA or NFL team?

The NFL would prefer to put an expansion franchise into Los Angeles than move an existing franchise.
They would collect a huge expansion fee, probably more than a billion dollars. If they move an existing
franchise they get nothing.





Since: Sep 25, 2009
Posted on: October 21, 2010 7:19 am
 

Magic Johnson wants to own NBA or NFL team?

Don't leave out the Tampa Bay Yucks!



Since: Dec 5, 2006
Posted on: October 21, 2010 2:39 am
 

Magic Johnson wants to own NBA or NFL team?

Can anyone shed some light on why there hasn't been an NFL team in LA, the nation's second biggest city, for 15 years?  I'm sure a ton of struggling, small market teams would love to make the move.  I'm looking at you Cincinnati, Buffalo, and Jacksonville.


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