Last week, the NFL unanimously approved the sale of the Washington Commanders to a group that includes Philadelphia 76ers and New Jersey Devils owner Josh Harris, and Los Angeles Dodgers part-owner Magic Johnson for a record $6.05 billion.
For Johnson, it is the latest addition to his growing business portfolio. Along with being part of the Guggenheim Baseball Management group that purchased the Dodgers in 2012, he has minority stakes in the Los Angeles Sparks and Los Angeles Football Club (LAFC).
Johnson had long been interested in becoming an NFL owner as he and Harris previously attempted to purchase the Denver Broncos before they were sold to the Walton-Penner family ownership group last year.
In a series of tweets, Johnson expressed his excitement in being part of the Commanders ownership group and called it the biggest accomplishment of his business career:
“God is so good…I still can’t believe it! I am currently living in an answered prayer. Since beginning my journey as an athlete and now businessman and team owner, it’s all been a dream that has come full circle. I grew up playing football as a kid, I’m a huge NFL fan, and I watch games every week. Now, I get to co-own a storied franchise, the Washington Commanders.
“I’m especially thankful to Josh Harris who allowed me to be one of his partners with the Commanders. He is an amazing man, great friend, incredible businessman, proven owner and winner with the Philadelphia 76ers. Josh and his team have been first class throughout this entire process. Our ownership team is committed to the D.C., Maryland, and Virginia community and fanbase to bring a winning team and best in class organization.
“This is truly the biggest achievement in my business career and a historic moment for the entire Black community. Talk about God’s perfect timing. This was the right organization for me to be a part of given it’s global appeal, history of winning, and the diverse fanbase and DMV community. I have a special relationship with the DMV. Many people don’t know I’ve done business in the Washington, DC area for many years.
“I was one of the owners of the Washington Hilton, I built multiple Starbucks franchises and Magic Johnson Theaters, and empowerment centers with the Magic Johnson Foundation. I also have my company SodexoMAGIC headquartered here. The DMV community has embraced and supported me, and I am honored and ecstatic to be a co-owner of the Commanders franchise!”
After a Hall of Fame career with the Los Angeles Lakers, Johnson has continued to have a big impact on the sports world.
Since becoming a part-owner of the Dodgers, the team has advanced to the postseason in 10 consecutive seasons and won the 2020 World Series. The Sparks and LAFC have also captured championships with Johnson as a part-owner.
Magic Johnson acquired Metaverse teams in SimWin Sports
In addition to owning several professional sports teams, Johnson recently acquired new football and basketball franchises in SimWin Sports, the world’s premier digital sports league.
SimWin Sports is the first professional sports league where the teams are owned by sports legends, celebrities and investors. Virtual teams and athletes compete 24 hours a day to fuel on-demand fantasy sports contests.
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