Los Angeles Lakers legend and accomplished entrepreneur Magic Johnson is joining the women’s soccer craze sweeping North America as a minority shareholder in the Washington Spirit team’s ownership group.
Johnson, the chairman and CEO of Magic Johnson Enterprises, now owns partial stakes in five sports teams. Those clubs include the Los Angeles Dodgers, Los Angeles FC, Washington Commanders, Los Angeles Sparks, and the Spirit. The NWSL team is currently valued at $54 million.
“Michele has a first-class organization in the Washington Spirit,” Johnson told CBS Mornings on Thursday.
“Partnering with a visionary like Michele Kang and her team to advance the growth of the Washington Spirit and the NWSL is an incredible opportunity. I’m excited to join the team and play my part to help elevate this organization.”
The NBA Hall of Famer is no stranger to winning. The 12-time NBA All-Star won five NBA titles with the Lakers in the 1980s, including three MVP seasons.
“I got 14 world championships, I need 15 now,” quipped Johnson.
After winning the 2021 NWSL championship, the Spirit again looks like the team to beat this season with rookie sensation Croix Bethune and USWNT playmaker Tiffany Rodman upfront.
But it’s Spirit’s majority owner, Michele Kang, who continues to push the envelope for the NWSL. She’s increased the stadium audience by 250% from 2021 and recently spearheaded the friendly matchup between WSL’s Arsenal and Spirit at a nearly sold-out crowd at Audi Field last month.
Kang’s ownership has undoubtedly increased the league’s value, begetting Disney CEO Bob Iger’s purchase of Angel City Football Club this month. The deal values the LA team at $250 million, the largest in women’s professional sports history. Iger, like Kang, is also injecting $50 million to bolster the club’s management and expansion objectives.
Washington Spirit aims for a dynasty with Magic’s magic
While Kang has controlling interests in eight-time European women’s champions Lyon and English second-division side London City, she’s ensuring growth stays within the nation’s capital. Getting famed athlete and billionaire Magic Johnson on board in DC is a major coup.
“[Johnson] shared with me about the transformation of the Lakers, how they turned a team into a winning team, shaped fan experiences, and how to transform a sports franchise into a lasting dynasty, which is exactly what we need and what we’re going through,” said Kang.
“We’re probably slightly ahead relative to where the Lakers were back in ’79, but those lessons and wisdom and experiences are something that we just absolutely need.”
