Magic Johnson Sells Back 105 Starbucks Locations
Former Laker star Magic Johnson is selling off some business assets. Johnson recently sold his 4.5 percent ownership stake in the Los Angeles Lakers to Dr. Patrick Soon-Shiong -- a longtime Lakers season ticket holder -- for reasons that his agent called, "a smart business decision." That, we're pretty sure, is code for, "he offered us so much money that we'd have to be complete idiots to say no." But now Johnson is also selling his 105 Starbucks franchises back to the company too. Speculation, according to the Los Angeles Times, is that, "he does have an eye toward acquiring something 'in sports' in the future."
Johnson can finally enjoy some quiet time, now that he only owns Magic Johnson Productions, Magic Johnson Theatres, Magic Johnson's TGI Fridays, 31 Burger King locations, a handful of 24 Hour Fitness gyms, and Sodexo Magic, while also working as a studio analyst for ESPN. Hey, maybe he'll finally get around to relaunching "The Magic Hour."
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