Passing the Magic Wand – Johnson Sells Share of Lakers

The greatest Lakers player of all time, Earvin ‘Magic’ Johnson has announced the sale of his share of the Los Angeles franchise today. Johnson announced the sale to Dr. Patrick Shoon-Shiong, a long-time Lakers season ticket holder and dedicated Lakers fan.

Saint PAUL, MN - JULY 25: Magic Johnson honors Muhammed Ali at the 2010 Starkey Hearing Foundation 10th Annual 'So the World May Hear' Gala at Saint Paul RiverCentre on July 25, 2010 in Saint Paul, Minnesota.  (Photo by Hannah Foslien/Getty Images for Starkey Hearing Foundation)


Dr. Shoon-Shiong is the Chairman of the Chan Soon-Shiong Family Foundation, and the Executive Direct of the UCLA Wireless Health Institute, as well as a variety of other impressive notches on a legendary resume.

Lakers majority owner, Dr. Jerry Buss, released a statement today regarding the sale of Johnson’s share of the team. Dr. Buss stated that the decision to sell Johnson’s share was purely a business move, and didn’t change the relationship between the legendary Laker and their owner.

The addition of another brilliant mind to the front office of the Lakers is great news for the team, even if it comes at the cost of losing one of the all-time most beloved icons in Lakers history. Dr. Soon-Shiong released a small statement declaring his excitement over the news as well.

“It is an honor for me to be part of the Lakers family and the nation’s foremost basketball franchise,” said Soon-Shiong.

Now let’s just see if he can make that impressive resume worth while and get Andrew Bynum’s knee fixed.

From all of Lakers Nation, we want to send a congratulations and hearty welcome to the Lakers newest owner, Dr. Patrick Soon-Shiong.

What % of the Lakers did he own? 5%?

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