Does Magic Johnson Own Part Of The Lakers

So, you’re wondering if the one and only Magic Johnson still has a piece of the Los Angeles Lakers pie. It’s a great question, because Magic is the Lakers, right? He’s the guy with the million-dollar smile, the no-look passes, and that 1980 Finals game where he played center as a rookie and dropped 42 points. But owning a team? That’s a whole different ball game—pun totally intended.

Let’s get straight to the point: No, Magic Johnson does not currently own any part of the Los Angeles Lakers. I know, I know—it feels like he should. It’s like finding out your favorite uncle doesn’t actually own the family barbecue grill. He just shows up, flips the burgers, and takes all the credit. But trust me, the story is way more fun than a simple “no.”

The Magic Kingdom of Ownership

Back in 1994, Magic actually bought into the Lakers as a part-owner. Picture this: he was already a legend, retired, and running a business empire. He paid a cool $10 million for a small stake in the team. That’s like buying a really, really expensive season ticket—with a seat in the boardroom.

For years, Magic was the smiling face of ownership. He’d sit courtside, laugh with fans, and occasionally whisper secrets to players. He loved being a part-owner, but he always had bigger dreams. And those dreams? They involved running the show, not just watching from the luxury box.

In 2017, Magic sold his ownership stake to pursue a new role: President of Basketball Operations. He wanted to rebuild the Lakers after years of losing. It was a noble move, like selling your mini-fridge in college to buy textbooks. He gave up ownership to fix the team from the inside.

The Bumpy Ride of a Legend-Turned-Boss

As President, Magic made some huge moves. He signed LeBron James in 2018—arguably the biggest free-agent signing in Lakers history. He also traded for Anthony Davis, setting the stage for a championship. But the job was stressful, and Magic is a people person, not a spreadsheet person.

In April 2019, Magic suddenly resigned during a press conference. He said he wanted to go back to being “Magic,” not a corporate executive. It was a little dramatic, but hey—that’s showbiz, baby. He walked away from his basketball ops salary, and he also walked away from any ownership.

Best Point Guards in Los Angeles Lakers History

Here’s the kicker: after resigning, Magic couldn’t just buy back his shares. The Lakers’ ownership group, led by Jeanie Buss, had moved on. Today, the team is owned by the Buss family trust and a few other investors. Magic? He’s a beloved fan with a lifetime pass, but no stock certificate.

So, What Does Magic Own Now?

Great news: Magic owns his legacy, and that’s worth more than stock. He’s a global ambassador for the Lakers—always invited to the biggest games, parties, and parades. He’s still the face of the franchise, even if his name isn’t on the deed.

He also owns a piece of the Los Angeles Dodgers (yes, the baseball team!) and part of the Los Angeles Sparks (WNBA). He’s like the mayor of L.A. sports. The Lakers are his first love, but he’s dating a few other teams on the side. No jealousy, please.

And let’s be real: Magic is richer than ever from his businesses (movie theaters, Starbucks, life insurance—yes, life insurance). He doesn’t need a tiny share of the Lakers to pay his bills. He’s got more money than a Monopoly board after a community chest win.

The Myth That Won’t Die

Why do people still ask this question? Because Magic embodies the Lakers spirit. When you see him at a game, you feel like he owns the place. He high-fives the crowd, gives pep talks to players, and even argued with the referees once (and won, because he’s Magic).

Does Magic Johnson own any part of the Lakers? - Basketball Noise

Also, rumors spread faster than a fast break on social media. Someone sees a photo of Magic in Jeanie Buss’s suite, and boom—“He must own the team!” Nope, he’s just a really, really good friend. And a free orange soda for life, probably.

So, to answer your question clearly: No, Magic Johnson does not own part of the Lakers. He sold his shares in ’97 (wait, no—’17, but you get the idea). Today, he’s officially a former part-owner, a former president, and an eternal legend.

The Uplifting Conclusion You Deserve

Here’s the beautiful truth: You don’t need to own something to be part of it. Magic Johnson is as much a Laker as the gold and purple jerseys. He’s the heart that beats in every championship banner, every “Showtime” highlight, every rookie who watches his old videos. He gave his sweat, his smile, and his soul to this team.

And honestly, owning a team is boring. You sit in a boardroom, argue about parking revenues, and sign checks. Magic belongs on the court, hugging players, laughing with fans, and being the human embodiment of joy. He’s not a shareholder—he’s a share-giver.

So next time someone asks, “Does Magic own the Lakers?” just smile and say, “No, but the Lakers own a little bit of Magic.” And then pass the popcorn, because life is too short to worry about stock certificates. After all, Magic Johnson’s legacy is worth more than any team’s valuation—and it’s tax-free. Now go enjoy a game, and if you see Magic, give him a high-five for me.