Former basketball player and billionaire Earvin “Magic” Johnson has expanded his sports team portfolio by becoming an investor in the Washington Spirit, a professional women’s soccer team. Johnson, who also owns stakes in the NFL’s Washington Commanders, MLB’s Los Angeles Dodgers, and other teams, joins the Spirit team two years after Michele Kang took over ownership.
Kang, who will remain the controlling owner, expressed excitement about Johnson’s commitment to the team and the impact it will have on women’s sports globally. Since Kang took over, the team has seen significant growth in fan engagement and attendance, with average attendance at games increasing from 5,000 to nearly 14,000.
Johnson’s investment in the NWSL team highlights a trend of wealthy figures getting involved in women’s soccer teams, with Disney CEO Bob Iger also recently becoming a controlling owner of Angel City Football Club. The Spirit, currently ranked second in the league, will be aiming for a championship as the playoffs approach in November.
With a net worth estimated at $1.2 billion, Johnson has built his wealth through various ventures beyond his basketball career, including partnerships in movie theaters, Starbucks franchises, and real estate. His investment in the Washington Spirit marks another milestone in his diverse sports team portfolio.
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