RESOLVING THE LEDGER
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See the full story · 1 sourcesPatience is key, especially in the investment world, and Magic Johnson knows this all too well.
As AFROTECH previously reported, Johnson has a portfolio that includes the WNBA’s Los Angeles Sparks. Guggenheim Baseball Management led the investment in the team in 2014. The ownership group consists of Johnson, Mark Walter, Stan Kasten, and part-owners Todd Boehly and Bobby Patton.
“The leaders of this great city came together quickly to keep this franchise right where it belongs,” Johnson said at the time, according to The Hollywood Reporter.
Despite owning the team for years, the ownership group still “haven’t made a dime,” Johnson said at Invest Fest 2026. However, the fate of that investment is now changing for the better. The league is at its peak compared to previous years, with its highest viewership, investment, and player salaries, the Columbia Missourian reports.
The Los Angeles Sparks currently have a $350 million valuation and rank seventh on Forbes’ list of most valuable teams in 2026, per the outlet. WNBA teams are valued on average at $414 million, a 52% increase from 2025 ($272 million), notes the outlet.
“It’s been a tough going for the WNBA, except now. There was a time when we said, ‘Should we sell this?’ And we kept saying, ‘No, let’s hold on to it,” Johnson said at Invest Fest 2026. “Oh, thank God we didn’t sell too early ’cause now we only paid ten million dollars for the franchise. So when you think about that return we’re gonna have, it’s amazing. So don’t sell too early, okay?”
Magic Johnson says his ownership group paid $10,000,000 for the WNBA Sparks and made no money for years
“We’ve owned the Sparks for a few years. We haven’t made a dime. It’s been a tough going for the WNBA. Except now. There was a time when we said, ‘Should we sell this.’ We… pic.twitter.com/2Yw6Q6yF0N
— dank (@cptdankkk) August 10, 2026
Johnson also has invested in other teams such as MLB’s Los Angeles Dodgers, MLS’s Los Angeles Football Club, WNBA’s Los Angeles Sparks, and NFL’s Washington Commanders, as AFROTECH previously reported.
He has a $1.6 billion net worth, according to Forbes, with the majority of his wealth being credited to his stake in life insurance company Equitrust.
The post Magic Johnson Admits WNBA’s Los Angeles Sparks Ownership Group ‘Haven’t Made A Dime’ On $10M Investment — So What’s Next? appeared first on AfroTech .
The post Magic Johnson Admits WNBA’s Los Angeles Sparks Ownership Group ‘Haven’t Made A Dime’ On $10M Investment — So What’s Next? appeared first on AfroTech .
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