Skip to content

Magic Johnson also throws his hat in Pistons ownership ring

Aug 13, 2010, 4:38 PM EDT

Thumbnail image for magic-johnson.jpgThe best basketball player ever to come out of Michigan has thrown his hat in the ring to help buy the Detroit Pistons.

He hasn’t had formal talks yet with any of the groups looking to buy, but told NBA.com he would be interested in being one of the partners.

Johnson stressed he has not had any formal talks about either possibility, with other potential suitors or the Davidson family that put the team on the market, and that he would not be a majority owner because it would mean relocating from Los Angeles, the very reason some close to him note the Pistons are not a realistic match. But Johnson told NBA.com at the press conference leading up to Hall of Fame ceremonies tonight that “some people had called me and wanted me to [know] if I’m interested in being a part of a group to own the Pistons.”

Magic owns five percent of the Lakers, which leaves him behind the controlling Buss family as well as AEG. (Little known tidbit, AEG has first rights if the Buss family ever decides to sell the Lakers. Which they won’t anytime soon.)

Magic would like a bigger role but that is not coming with the Lakers. He was rumored to have talked with one of the groups that bid on the Golden State Warriors. He could have a larger percentage and larger role with another franchise. He would have to sell his Lakers shares to do so, however.

Three potential owners are in the running to buy the Pistons.

There is Michael Ilitch, the pizza maverick who already owns the Detroit Tigers and Red Wings. There is former Rockets executive George Postolos, who recently headed a group that came in second to the Michael Jordan group in buying the Charlotte Bobcats. Then there is Michigan-raised and educated Tom Gores, who is a billionaire and basketball fan.

The Ilitch family probably will not be bringing in other investors, but Postolos does head a group and Gores may or may not bring on investors. It can’t hurt your chances to have Magic Johnson on your team, however.

  1. Zachariah Blott - Aug 13, 2010 at 7:23 PM

    If anyone can figure out what exactly the Pistons are trying to do right now, please let the rest of us know. Here’s a look at the legacy of new Piston Tracy McGrady.
    http://www.hoopskarma.com/hk/2010/8/13/legacy-friday-tracy-mcgrady.html

Leave Comment

You must be logged in to leave a comment. Not a member? Register now!

Featured video

Why can't Lakers have a player-coach?
Top 10 NBA Player Searches
  1. L. James (4063)
  2. K. Love (3995)
  3. D. Rose (3771)
  4. K. Bryant (2643)
  5. R. Allen (2323)
  1. C. Anthony (2186)
  2. K. Durant (2128)
  3. B. Griffin (1998)
  4. E. Bledsoe (1979)
  5. D. Wade (1878)