After 10 years of ownership, Magic Johnson has sold his 10 percent interest in the Los Angeles Lakers franchise. Citing a "business decision" by him and his family, Magic, who was a Laker for 13 years, sold his share of the franchise to Dr. Patrick Soon-Shiong who was a season ticket owner for 25 years.
Reports indicate that Magic had previously expressed interest in acquiring a stake in his hometown team, the Detroit Pistons. Time will tell where this is all headed.
Oct 19, 2010