Related News
Home 禄 Sports 禄 Basketball
Magic sells ownership stake in Los Angeles Lakers
Source: Agencies |
October 19, 2010, Tuesday
|
Online Edition
Online Edition
EARVIN "Magic" Johnson sold his ownership stake in the NBA's Los Angeles Lakers to a doctor who made his fortune on cancer treatments and generic drugs, the team said yesterday.
Financial details of the transaction were not disclosed by the team, but the Los Angeles Times reported the Hall of Fame guard had about a 4.5 percent stake in the team.
The Lakers were valued at US$607 million last December by Forbes magazine, which would make the sale of Johnson's stake worth about US$27 million.
Johnson, who won five championships with the Lakers in a distinguished playing career, said he will continue to work with the team's majority owner Jerry Buss.
"This was a bittersweet business decision made on behalf of my family and myself," Johnson, who played his entire 13-season playing career with the Lakers, said in a statement.
"I want to assure all the wonderful and loyal Lakers fans that my decision will in no way affect my dedication and support for the Los Angeles Lakers."
The team said Johnson sold his ownership stake of the club to Dr. Soon-Shiong, a Lakers season-ticker holder for over 25 years and the Chairman and CEO of All About Advanced Health and founder of the National Coalition for Health Integration.
Financial details of the transaction were not disclosed by the team, but the Los Angeles Times reported the Hall of Fame guard had about a 4.5 percent stake in the team.
The Lakers were valued at US$607 million last December by Forbes magazine, which would make the sale of Johnson's stake worth about US$27 million.
Johnson, who won five championships with the Lakers in a distinguished playing career, said he will continue to work with the team's majority owner Jerry Buss.
"This was a bittersweet business decision made on behalf of my family and myself," Johnson, who played his entire 13-season playing career with the Lakers, said in a statement.
"I want to assure all the wonderful and loyal Lakers fans that my decision will in no way affect my dedication and support for the Los Angeles Lakers."
The team said Johnson sold his ownership stake of the club to Dr. Soon-Shiong, a Lakers season-ticker holder for over 25 years and the Chairman and CEO of All About Advanced Health and founder of the National Coalition for Health Integration.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
