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Tag Archives | Magic Johnson

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Los Angeles Clippers sold for $2 billion?

Another shocking development in the Los Angeles Clippers/Donald Sterling saga tonight.  ESPN is reporting there is now an agreement between the Sterling Family Trust and  billionaire businessman Steve Ballmer. The former CEO of Microsoft  apparently has won the bidding war for the Clippers with an offer of $2 billion. Yes, that’s billion with a “b”.  Ballmer is worth at least $20 billion, according to Forbes. Also other media, including the L.A. Times,  are saying Ballmer has come out on top in the fight... Read More →

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Dodgers co-owner Magic Johnson tweets about opening day crowds

The sold-out  home game opener for the Los Angeles Dodgers is set to get underway at 1 :10 p.m. in Dodger Stadium today. The boys in blue will be taking on upstate rivals, the San Francisco Giants. Ticket holders will face a number of upgrades including improvements in traffic management and security. Team co-owner, Magic Johnson, is tweeting about the event.   There are thousands of fans in @Dodgers blue, music, food and dancing. Everyone is having a good time getting ready for the home... Read More →

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Another big bucks deal for Magic Johnson

Ex-NBA Star, Magic Johnson, must have some major plans in the works. The Los Angeles Times is reporting Johnson recently sold his 105 Starbuck franchises back to the parent company. Earlier this week it was announced, the former Laker superstar, unloaded his ownership interest in the Lakers. Both deals are worth around $100 million, according to the Times. More on Johnson’s wheeling and dealing here.

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the logo for the Los Angeles Lakers

Lakers lose some magic

Former Laker Superstar, Earvin “Magic” Johnson, is no longer part owner of the NBA champion Lakers.  Sad, but true. Yesterday, the team announced Johnson had sold his ownership share to Dr. Patrick Soon-Shiong, a 25-year season-ticket holder, local businessman, and philanthropist.   Johnson reportedly bought his share for $10 million in 1994. No official word on what it sold for, but according to the Los Angeles Times, Johnson’s stake was about 4.5 percent. Last December, Forbes magazine listed the Lakers as the NBA’s most valuable franchise at $607... Read More →

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