Magic Johnson, Investors Buy Los Angeles Sparks

News & Views | Camille Travis | 02/07/2014 | 11:15 AM EST

Johnson's latest business moves follows behind his record-setting buy of the Los Angeles Dodgers

Magic Johnson has scored yet another business move in the purchase of the WNBA's Los Angeles Sparks along with a group of investors. The recent buy follows behind his record-setting $2.15 billion deal to own the Los Angeles Dodgers.

The legendary Lakers star has teamed with Mark Walter and a crew of investors to take over the franchise previously owned by Paula Madison.

"We're totally thrilled," WNBA President Laurel Richie told The Associated Press. "When Magic chooses to enter into a partnership with a WNBA team, that's a great thing. He's a legend within basketball. He's very knowledgeable about the game. He's a larger-than-life personality. He’s an extremely successful business man. He cares about the community the way that the WNBA does."

Richie said Johnson is excited to attend upcoming games and interact with the team as they usher in the 2014 season.

She added, "I do know they were very attracted to this team not just because they were in L.A. and their incredible history, but also their performance over the last few years. The players, Candace [Parker] being MVP, Carol [Ross] being Coach of the Year, their knowledge and experience — they recognize what an incredible franchise it
is at this moment."

In franchise history, the Sparks have won two titles (2001, 2002) and have made it to the playoffs in five of the past six seasons.

Johnson was a part owner of the Los Angeles Lakers for a decade before selling his share in 2011.

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