Magic Johnson interested in buying NFL team relocating it to LA

[ehh]

Glad to see Magic has taken care of himself financially at least.

Quote:

With Magic Johnson dumping his stake in the Los Angeles Lakers, he'd now like to use that money to buy an NFL team. Or at least part of one. And he'd like to bring the team to L.A. "Would I be interested? Of course I would be interested," Johnson told Broderick Turner of the Los Angeles Times, via USA Today. "Have I talked to anybody about it? No. But I would love . . . I would do that in two seconds." Johnson owned 4.5 percent of the Lakers, for an estimated $27 million. He also reportedly sold Starbucks franchises back to the company for $75 million. Still, $100 million would get him only 10 percent of an NFL team. Currently, a couple of stadium projects are being explored in Los Angeles. Ed Roski's group is poised the build a stadium in City of Industry, once a team is lined up to play there. A stadium in downtown L.A. near Staples Center also is a possibility. It would be fitting if Johnson would be part of a Vikings team that would move to L.A., given that his Lakers moved to Los Angeles from Minneapolis.

[SPTO]

It seems that Magic has always wanted to own a sports team. I remember in '94/'95 time period he was one of the finalists to own the Toronto NBA expansion franchise. He was a popular choice but it ended up going to the Bitove group.

I'm glad to see he's doing well financially and wants to be a part of the sports culture other then basketball but he better not make any overtures to the Bills!

[Chrisksaint]

Quote: Originally Posted by SPTO

It seems that Magic has always wanted to own a sports team. I remember in '94/'95 time period he was one of the finalists to own the Toronto NBA expansion franchise. He was a popular choice but it ended up going to the Bitove group. I'm glad to see he's doing well financially and wants to be a part of the sports culture other then basketball but he better not make any overtures to the Bills!

Yeah and Magic seems like the guy who would be a great owner.

[ProfessaPackMan]

Put a team in LA for what?

[wwharton]

For some reason I just can't get past how ridiculous it seems that $100 million ONLY gets you about 10% of a franchise, lol.

[maximized98]

Quote: Originally Posted by wwharton

For some reason I just can't get past how ridiculous it seems that $100 million ONLY gets you about 10% of a franchise, lol.

Yea I know. Talk radio man Rush Limbaugh was going to buy the Rams for a cool 800 Million.

[Fresh Tendrils]

I was reading an op-ed the other day about Magic selling his shares and the writer was suggesting he buy the L.A. Dodgers. It seems like Magic is one hell of a business man, definitely knows how to invest his money.

[TracerBullet]

Apparently he tried to talk to the Jaguars.