Magic Johnson Open To Knicks Minority Ownership Stake

Basketball Hall of Famer Magic Johnson’s expansive sports ownership portfolio already includes stakes in the Washington Commanders, Los Angeles Dodgers, LAFC, Los Angeles Sparks, and esports company aXiomatic. 

Now, he’s looking to return to NBA ownership — with a very specific team.

Thirteen years after shedding his previously held equity stake in the Los Angeles Lakers in pursuit of larger team ownership opportunities, Johnson told the Associated Press that the New York Knicks are the “only team I would probably think about. Other than that, I would probably never think about ever being a part of another franchise.”

Johnson said he received potential ownership opportunities with the Golden State Warriors, Detroit Pistons, and Atlanta Hawks, but turned them all down instead of competing with the Lakers, where Johnson was also head coach in 1994 and president of basketball operations from 2017-19.

But to him, the Knicks offer a different kind of attraction. “That one, you would really have to think about,” he said.

Johnson acknowledged he hasn’t discussed the notion with Knicks owner and MSG executive chairman James Dolan, and the team is not formally for sale. In a recent New York Times profile about Dolan and his other major project, the MSG Sphere in Las Vegas, he said the Knicks are “near and dear to my heart,” but added, “I don’t really like owning teams.”