Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: TUESDAY, June 28, 1994 TAG: 9406300050
SECTION: SPORTS PAGE: C1 EDITION: METRO
SOURCE: Associated Press
DATELINE: INGLEWOOD, CALIF. LENGTH: Medium
Magic Johnson always has wanted to be an NBA owner. After a couple of tries with other teams, he achieved his goal with the team that made him famous - the Los Angeles Lakers.
Johnson, who led the Lakers to five championships in 12 years before his playing career came to an abrupt end in 1991 when he learned he had contracted the virus that causes AIDS, has purchased a part interest in the team.
On a conference call Monday from Hawaii, where he's vacationing, Johnson wouldn't divulge the percentage he purchased from the majority owner, Dr. Jerry Buss, or how much he was paying.
``It's one percent more than I had or any other player had,'' Johnson said. ``I'm just happy to have whatever that percentage is. This is just a great day for African American people as well as myself, athletes in general. This is what it's all about. Whatever it [the percentage of ownership] is, it's more than we had yesterday.
``Dr. Buss and I do things strange. He knew that I wanted it, all of a sudden one day, [Buss said], `OK, I'll sell you part of the team.' He does things at his own pace. He just picked up the phone after he knew I wanted it. All of a sudden, he said, `You belong here.'''
The percentage is believed to be less than 10 percent, but that could change in the future.
``He knows I want more, that's his decision,'' Johnson said. ``I'm satisfied and happy, I always wanted to own. This is one of the greatest investments I could have.''
Johnson, 34, is owed $14.6 million for the 1994-95 season by the Lakers, a negotiation completed before a short-lived comeback that lasted a little over a month and ended with his second and final retirement before the 1992-93 season.
``Dr. Buss still has to pay me, this is something separate from that,'' Johnson said. ``I have to reach into my personal account and spend a lot of money.''
The Associated Press learned that Johnson is paying in excess of $10 million to purchase his piece of the Lakers.
``His energy, enthusiasm and love of the Lakers cannot help but make our organization stronger,'' Buss said in a press release.
Johnson returned to the Lakers for the final 16 games of the 1993-94 season as head coach but announced before the season ended he would not return in that capacity next season.
After his retirement, Johnson made several moves toward moving into a front office. He was part of a group that lost a bid for an expansion franchise in Toronto, and he reportedly negotiated as part of a group to buy the Minnesota Timberwolves.
He will hold the title of vice president and work in ``various management areas where his expertise could be beneficial to the Lakers,'' the team announced.
Those duties will include college and professional player evaluation assistance to Jerry West, the team's executive vice president of basketball operations, and Mitch Kupchak, the team's general manager; assisting the coaching staff; and in marketing and public relations.
``I definitely have an office, an assistant, the whole thing,'' Johnson said. ``I'm a businessman, I'll be having a big presence. I'm going to try and help the organization continue growing.''
Keywords:
BASKETBALL
by CNB