Entrepreneur and NBA legend Magic Johnson has joined the ownership of the Washington Spirit.
His investment in the National Women’s Soccer League franchise was revealed Thursday on “CBS Mornings,” where he appeared alongside controlling Spirit owner Michele Kang.
“We’re incredibly honored to have Magic be part of this community,” Kang said on the broadcast.
Terms of Johnson’s ownership were not disclosed. The Spirit were valued at $54 million by Sportico in May. The club posted $6 million in revenue across 2023 and has increased attendance and sponsorship revenue in 2024 as interest in professional women’s sports has climbed.
Johnson said he connected with Kang in Los Angeles, and the pair “clicked.”
“You know me, I love sports, I love being in ownership, because I think it’s important to see minorities in ownership,” Johnson said on the broadcast.
Johnson added that not only does he want to win championships with the Spirit, but he wants to help its players…
Read the full story from the Washington Business Journal.
