Magic Johnson reacts to sale of majority stake of Lakers ownership
Magic Johnson reacts to sale of majority stake of Lakers ownership
In 1979, the late Dr. Jerry Buss purchased the Los Angeles Lakers, and that same year, the franchise drafted Earvin "Magic" Johnson with the No. 1 overall pick in the NBA draft. Over the next nine seasons, the Lakers won five NBA championships, making Johnson a basketball legend and Buss one of the greatest owners in the history of team sports.
On Wednesday, the Buss family reportedly agreed to sell its majority ownership stake in the Lakers to Mark Walter, the CEO of TWG Global and Guggenheim Partners. Through Guggenheim Partners, he has owned a sizable stake in the Los Angeles Dodgers.
Another man who is involved in the ownership of the Dodgers is Lakers legend Magic Johnson. He said that fans of the Purple and Gold should be "ecstatic" about Walter taking over a majority stake of the franchise.
The group that is headed by Walter and includes Johnson bought the Dodgers in 2012. Over the last 12 seasons, the Dodgers have won the National League West division 11 times, and they have won two World Series championships in the previous five Major League Baseball seasons.
Their ownership group has spared no expense in order to bring in star after star, including Mookie Betts, Freddie Freeman and Shohei Ohtani, all of whom had won at least one MVP before coming to L.A.
Perhaps something similar could be expected from the Lakers, who have had LeBron James and one other true superstar for the last six seasons, but have only one NBA title to show for it.
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