Months after $242 million NFL investment, NBA legend Magic Johnson eyes ownership role with Knicks

Magic Johnson lived beyond expectations during his playing days, evident in the five championship rings he’s won with the LA Lakers, where he spent most of his playing days. And off the court, he is also an entrepreneur who owns several businesses in and outside of the USA.

With an estimated net worth of about $620 million, he is considered one of the wealthiest NBA legends, whether active or retired, which can allow him to flex his muscles. After a recent report revealed his investment in an NFL team, he is now considering becoming one of the co-owners of a franchise in the NBA.   

Johnson considering investment in Knicks ownership

Basketball Hall of Famer Magic Johnson has always been loyal to the Lakers and has never considered owning any other franchise outside the New York Knicks. Johnson said, “I think it would be intriguing. The only team I would actually probably think about is the New York Knicks.”

Magic Johnson
Via Getty

Johnson told The Associated Press in an interview, “I think because of the way fans love basketball you might have to think about that one, because I love coming to New York and going to the Garden and watching the Knicks play. I love being with fans who are so passionate about their team and the Knick fans are, and they’re smart. They’re smart basketball fans and so that is one I would have to think about. I think that other than that, I would probably never think about ever being a part of another franchise.”

He has turned down owning teams like the Golden State Warriors, Detroit Pistons, and Atlanta Hawks because he doesn’t want to compete with the Lakers, which is the team he loves. But the Knicks are different because their fans are so passionate and smart about basketball. While Johnson hasn’t had discussions with the Knicks’ management about ownership, he’s open to the idea if it ever comes up.

Magic Johnson made major investment in Washington Commanders

Magic Johnson made a big investment in the Washington Commanders in the NFL. He is now a part of the team’s ownership group, which bought the team for a record $6.05 billion. At an event where he was announced as part of Josh Harris’ ownership group, Magic encouraged the fans, saying everyone needs to work together to make the team successful. He emphasized that he invests in sports teams not for ego but to win.

Magic Johnson
Via Getty

Magic has been involved with other sports teams in Los Angeles, like the Dodgers and the LAFC. He feels privileged to be a part of the growing number of black Americans who own NFL franchises. Magic didn’t go into great detail about his investment, but he expressed his excitement at joining the Commanders and his desire to give back to the community.

In a Twitter post, Magic and his wife Cookie shared their excitement about their first Commanders game, where they saw many famous faces, including Super Bowl Champion Doug Williams and Olympic ski racer Lindsey Vonn. So, Magic Johnson has joined the Washington Commanders as an owner and is ready to help the team succeed.

How excited are you about seeing Magic Johson getting ownership of an NBA franchise? Let us know your opinions in the comments section.

Shariare Hasib

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Shariare Hasib is an NBA Editor at SportsKnot. With a master's degree in journalism from a prestigious university, Shariare started writing about the sport during his undergraduate years. Since then, he has been fascinated by LeBron James' lasting impact as well as Stephen Curry's incredible consistency. He specializes in live basketball coverage. Apart from reporting on trade speculations and match updates during off-season activities, Shariare frequently interacts with fan communities to stay abreast of the constantly evolving NBA scene.


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