Magic Johnson Sells His Share Of The Lakers, May Be Eyeing Another NBA Franchise

Magic Johnson

Photo: gbyrne2 via flickr

Magic Johnson sold his share of the Los Angeles Lakers to season-ticket holder Dr. Patrick Soon-Shiong, the NBA reports.The NBA did not disclose the terms of the sale. Johnson bought a share of the team in 1994 and was believed to possess about a 4.5 per cent stake in his former team. He played for the Lakers from 1979 to 1991, and parts of 1996.

The sale has led to some speculation (at least from oneĀ  prominent NBA observer) that Magic wants to put together a bid to own a majority stake in some NBA franchise.

Soon-Shiong is a professor at UCLA and has been a season-ticket holder for more than 25 years.

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