Entrepreneur and NBA Hall of Famer Magic Johnson added to his voluminous business portfolio by officially becoming part-owner of the Washington Commanders.
The NFL owners voted unanimously Thursday to approve the sale of the team to a group led by billionaire Josh Harris that includes Johnson, the five-time NBA champion. The group is taking ownership of the Commanders from embattled owner Daniel Snyder for a record $6.05 billion.
The Commanders were a troubled franchise under Snyder, who was embroiled in controversy for much of his ownership. The NFL twice investigated him for improper workplace conduct, with one probe ending Thursday. He was fined $60 million after attorney Mary Jo White found that the team did not disclose revenue it was supposed to share with other franchises and that Snyder had harassed a female employee.
Johnson, formerly of the Los Angeles Lakers, will be the franchise’s first Black co-owner. He said he is aware that the team’s image needs an internal face-lift in an interview with NBC News’ Craig Melvin that will air Friday morning on the “TODAY” show.
“Well, first of all, you have to let the employees know that you respect them and it will be a safe place to work,” Johnson said. “And we want you to have a winning attitude, too. These owners just can’t have a winning attitude. It’s got to trickle down to the employees. And then it’s got to trickle down to the coaches and trickle down to the players.
“So if we respect them, they will respect us and go to the wall for us. And so — I’ve been in so many different sports teams … and we know how valuable these employees are, because they make it run every single day. And so we’re going to hire the best people. We already got a lot of great people. So this year it’s about listening, watching and really learning.”
Johnson, 63, has ownership stakes in the Los Angeles Dodgers of Major League Baseball, the WNBA’s Los Angeles Sparks and Major League Soccer’s Los Angeles FC. His company, Magic Johnson Enterprises, also owned more than 100 Starbucks from 1998 to 2010. He sold them and made $100 million.
The foray into the NFL could be his biggest leap yet. The league is sports’ king, owning the viewing public during its six-month season.
Source: | This article originally belongs to Nbcnews.com
