Magic Johnson owned the Lakers.
Earvin `` Magic '' Johnson Jr. ( born August 14 , 1959 ) is an American retired professional basketball player and current president of basketball operations of the Los Angeles Lakers of the National Basketball Association ( NBA ) . He won a championship and an NBA Finals Most Valuable Player Award in his rookie season , and won four more championships with the Lakers during the 1980s . Named by Ebony magazine as one of America 's most influential black businessmen in 2009 , Johnson has numerous business interests , and was a part-owner of the Lakers for several years . Magic Johnson Enterprises . Over the years , Magic Johnson Enterprises has continually invested ownership in many lucrative businesses including the Los Angeles Lakers , movie theaters and restaurants in the United States , including T.G.I. Friday 's , Sodexo , and Burger King locations . Johnson owned a nearly 5 % share of the Lakers , until its sale to Patrick Soon-Shiong in 2010 .