Magic Johnson buys stake at ownership group of NWSL’s Washington Spirit

A new partnership was announced this Thursday on CBS Mornings show, when Washington Spirit owner Michele King welcomed a new member to her table, none other than NBA Hall of Famer Magic Johnson. The majority owner has been in charge of the NWSL franchise for over two years now, when she bought the club for a former league record of $35 million. 

The Lakers icon is also not new to buying stakes in the sport world, as he’s also part owner of the MLS’ Los Angeles FC, WNBA’s Los Angeles Sparks, he managing entity of the MLB’s Los Angeles Dodgers, NFL’s Washington Commanders, and also a founding member of the Guggenheim Baseball Management.

“Michele and I met in Los Angeles and we clicked. We took off. It was a great conversation. When you think about what happened with the Olympics and the women’s soccer team dominated on the field, so the popularity of the game is exploding here in America.

.@MagicJohnson is joining the ownership group of @WashSpirit.

Johnson and Michele Kang, the Spirit’s majority owner, tell CBS Mornings about championing women’s sports: “I want to make sure that this sport, women’s soccer, can grow.” pic.twitter.com/hzP8VRlkKs

— CBS Mornings (@CBSMornings) September 5, 2024

“We knew worldwide it’s already a big deal and now it’s exploding here and so when she allowed me to be her partner,” Johnson said yesterday morning on the television show.

According to the NBA icon, he and Kang aligned mostly through sharing the same vision and ideals for the club, but also on where they currently find themselves in their own journeys of creating business in the sporting industry.

“I love to be in the ownership because it’s important that they see minorities in an ownership position, but the main thing, too, is I love helping the athletes transition from their sport to hopefully business or whatever they want to do after their time being an athlete,” he assured. “Michele cares about the same thing and so we’re going to help these women not only on the field. We want to win championships … [but] here we’re going to help them after their career as well.”

The latest move by Kang in women’s soccer comes just six weeks after the official launch of Kynisca Sports International Ltd, the first multi-team global organization dedicated to women’s soccer.

Warriors icon Stephen Curry recently opened about the possibility of owning an NBA team in the future, and admitted that it is “definitely on the table”

Four-time champion Stephen Curry is already pondering on retirement, and thinking about what lies ahead of his basketball career. The Golden State star, who is a 10-time All-Star, spoke to CNBC’s Squawk on the Street on Tuesday and explained his various businesses and objectives for the future.

The 36-year-old admitted he is interested in NBA team ownership one day. “For me, that’s definitely on the table,” Steph shared. “I think I could do a pretty good job of helping sustain how great the the NBA is right now and what it takes to run a championship organization.”

“For me, that’s definitely on the table,” said the player who just inked a a one-year, $62.6 million contract extension that keeps him playing until he’s 39 in 2027. “I think I could do a pretty good job of helping sustain how great the the NBA is right now and what it takes to run a championship organization.”

Curry also owns media company Unanimous Media, and a youth golf tour, Underrated, and other ventures which use sports and art to develop communities and young minds. “I know I have a lot more to accomplish on the court before I move into other roles in the league,” he said.