Source: Magic Johnson Group To Buy Part Of Los Angeles Sparks
Lakers PhotosLakers vs. FC Barcelona The Los Angeles Lakers face off with Pau Gasol’s former team and European Champions FC Barcelona on October 7, 2010. Nike's House of Hoops In Barcelona and Basketball Clinic Kobe Bryant and Pau Gasol go against Ricky Rubio and Juan Carlos Navarro on a 2-on-2 game Lakers Travel To London Pilots hold up a Lakers flag before the Los Angeles Lakers travel to London at LAX on September 30, 2010, in Los Angeles, California. Barcelona Goes Crazy For The Lakers The Lakers arrived in Barcelona, Spain to huge crowds and lots of media at their practice inside Palau Blaugrana stadium. Lakers star Pau Gasol is from Spain.
LOS ANGELES (AP) — A person familiar with the situation says Magic Johnson is part of a group buying the Los Angeles Sparks of the WNBA.
The person spoke to The Associated Press on condition of anonymity because no official announcement has been made.
Johnson teamed with a group of investors to buy the Dodgers in 2012 for a record $2.15 billion.
Previous Sparks owner Paula Madison informed the league in late December that she wouldn’t be able to run the team anymore. She told The Associated Press that her family had lost $12 million on the franchise since buying it from the Buss family in 2007.
Johnson was a part owner of the Lakers for a decade before selling his share of the team in 2011.
The WNBA will officially announce the new ownership at a press conference on Wednesday outside the Staples Center.
(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)