As the NBA considers two new expansion teams, LeBron James is already out of the running for a potential ownership role. Still, there’s another Lakers legend who is still the picture.
According to NBA Insider Evan Sidery this week, former Lakers star Magic Johnson is in the process of making his ownership dreams a reality. In preparation for the upcoming bidding war, Johnson has been taking meetings all week, including with Nevada Governor Joe Lombardo.
“Magic Johnson is aggressively pursuing a majority ownership stake in a future NBA expansion team in Las Vegas,” wrote Sidery on X. “Johnson met with Nevada governor Joe Lombardo and others this month to discuss his plan of ownership and building a state-of-the-art arena on the Las Vegas Strip. The Lakers legend is already a minority owner of the Washington Commanders, Los Angeles Dodgers, LA Sparks, Los Angeles FC, and NWSL’s Washington Spirit.”
Johnson, 66, is a five-time champion, three-time MVP, 12x All-Star, and legendary Hall of Famer. From 1979 to 1991, he stood tall as one of the game’s brightest stars with career averages of 19.5 points, 7.2 rebounds, 11.2 assists, 1.9 steals, and 0.4 blocks per game on 52.0% shooting and 30.3% shooting from three. He retired for the final time in 1996, cementing his legacy as an all-time great in the NBA.
After his playing career, Johnson continued to serve as an advisor for the Lakers. In 2017, he was hired as the team’s President of Basketball Operations, serving for a little over two years before a falling out with then-GM Rob Pelinka convinced him to step down.
Johnson hasn’t held an official front-office role in the NBA since then, but he is a minority owner for Guggenheim Baseball Management, which purchased the Dodgers for a record $2.2 billion in 2012. He has helped run the Dodgers, along with new Lakers owner Mark Walter, for years, building up his experience and credibility in an ownership role.
While Magic has been trying to become an NBA owner for years now, recent talks of expansion have Johnson moving with purpose. Now that the NBA’s Board of Governors has approved bids for teams in Seattle and Las Vegas, he can start the process of finding his partners and developing a plan to support a new team. The biggest hurdle now will be the money.
The estimated cost for a Vegas team is between $7-$10 billion, meaning Magic will have to find some wealthy business partners to make a qualifying bid. While Mark Walter may be off the table, he still has plenty of connections to turn to as a former NBA star and successful businessman worth roughly $1.2 billion. Who knows, he may even ask LeBron James to pitch in and join his growing group of investors.
For now, it’s still just wishful thinking for Magic. While the NBA hasn’t finalized any new teams just yet, there are still several steps to go before anything is official. Regardless, if there’s a chance to make something happen, Magic will seize it without hesitation. As someone with the will and resources to make it happen, it’s highly possible he’ll be running a brand new NBA team before too long.
