Magic Sells LA Lakers Shares; Reportedly Eyes Pistons
*After 10 years of owning a piece of the Los Angeles Lakers, former team member Earvin “Magic” Johnson has sold his share of the franchise to a long time season ticket holder for an undisclosed amount.
Johnson, who played 13 years for the Lakers, originally paid $10 million in 1994 for a 4.5% share of the team, and some speculate that the sale was orchestrated so that he can own a larger portion of another team later on.
