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Earvin “Magic” Johnson Becomes First Black Owner In Major League Baseball

Submitted by on March 28, 2012 – 8:33 amNo Comment

The legend of Earvin “Magic” Johnson‘s business practices are reaching Oprah-like levels.

On Tuesday, a group that includes the former NBA All Star purchased the Los Angeles Dodgers from Frank McCourt to the tune of $2 billion dollars, making Johnson the first black MLB owner. The potential deal — it is subject to approval in a federal bankruptcy court at the end of April –is monumental, as Johnson continues to take over Los Angeles one purchase at a time. The beloved Laker has furthered his reach by being a part of this purchase. Since retiring in 1991 after being diagnosed with HIV, the five-time NBA Champion and three-time MVP has been successful with his post-NBA career as his investments in movie theaters, a production company, and restaurants have demonstrated that, if you handle your money correctly, you can have a successful future after a basketball career.

“I am thrilled to be part of the historic Dodger franchise and intend to build on the fantastic foundation laid by Frank McCourt as we drive the Dodgers back to the front page of the sports section in our wonderful community of Los Angeles,” Johnson said in a statement.

The deal ends three years of financial strife under Frank McCourt. But although the team has been in trouble over the past few years, getting Johnson in a small ownership role can only help bolster the popularity of the team.

It’s definitely showtime in Los Angeles.

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