Magic Johnson sells his stake with the Los Angeles Lakers

Magic Johnson recently sold his 5% stake with the Los Angeles Lakers for a whopping $35 million.  TMZ reported that this sale was made yesterday from a sky phone.  Magic Johnson purchased his share of the Los Angeles Lakers in 1994 for a reported $10 million dollars.  The reason of the sale is related to Johnson’s desire to purchase the Detroit Pistons.  We will have to wait and see!

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By: Danielle Williams