Monday December 4, 2023

Magic Johnson’s Illustrious Business Career

  • The five-time NBA champion and entrepreneur has been appointed to the board of directors of Fanatics.
  • It's another addition to a long list of Johnson's leadership and investment moves.
Photo: Bob Donnan-USA TODAY/Design: Alex Brooks
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NBA legend and business mogul Earvin “Magic” Johnson is everywhere when it comes to business. 

The five-time NBA champion and entrepreneur has been appointed to the board of directors of Fanatics, a global leader in licensed sports merchandise. 

Johnson will be one of three independent directors, joining Mindy Grossman, CEO of WW (formerly Weight Watchers) and Gerald Storch, former CEO of Toys R Us. 

Fanatics is another addition to the long list of Johnson’s leadership and investment moves.

In 2012, he was part of the ownership group that bought the Los Angeles Dodgers and its minor league affiliate. He also led the charge to purchase the WNBA’s Los Angeles Sparks in 2014.

Both ventures were made possible through Johnson’s investment conglomerate Magic Johnson Enterprises, which he started in 1995 after an investment in an L.A. movie theater. Johnson also has ownership stakes in LAFC of MLS and esports franchise Team Liquid.

Outside of teams, Johnson is an investor in sports tech startup ShotTracker and The Marvel Experience, a touring theme park powered by private venture capital fund Hero Ventures. Johnson is involved in the energy sector as well, investing in Uncharted Power last year. 

The appointment of Johnson comes after the announcement of Fanatics China last week.

Currently valued at $6.2 billion, Fanatics secured $350 million in a Series E funding round in August 2020. Major League Baseball and the NFL invested a total of $150 million in the company in 2017.

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