5-time NBA champion Earvin “Magic” Johnson is the latest investor within the Washington Spirit, the Nationwide Girls’s Soccer League staff introduced on Thursday.
“I am excited to affix the Washington Spirit’s investor group at such a pivotal time within the membership’s historical past,” Johnson stated in a press release.
“Partnering with a visionary like Michele Kang and her staff to advance the expansion of the Washington Spirit and the NWSL is an unbelievable alternative. I am excited to affix the staff and play my half to assist elevate this group.”
Johnson, 65, starred for the Los Angeles Lakers from 1980-1996, profitable 5 NBA titles and three MVP awards. He was a 12-time all-star and was named by the NBA as one of many 50 biggest gamers in league historical past upon his retirement. In recent times, Johnson has entered the sports activities enterprise house by investing in a number of groups.
Kang has been the Spirit’s principal proprietor since early 2022, when she purchased the staff for $35 million, which was an NWSL document on the time and about 10 instances the valuation of a special NWSL franchise sale two years earlier.
The Spirit had simply gained the 2021 NWSL Championship amid a tumultuous season that included the ousting of former head coach Richie Burke amid allegations of abuse. Amid their run to a championship, gamers publicly known as for former majority proprietor Steve Baldwin to promote the staff. Kang was a minority proprietor on the time.
NWSL staff valuations have skyrocketed since Kang’s takeover, with the NWSL document for staff valuation falling a number of instances this yr. The July acquisition of Angel Metropolis FC by Willow Bay and Bob Iger (CEO of Disney, the mother or father firm of ESPN) set a brand new bar at a $250 million valuation.
The sale of the Los Angeles-based Angel Metropolis continued the pattern of an inflow of billionaires into the NWSL, a marked change from its humble launch as an eight-team league in 2013. The NWSL is anticipated to call its sixteenth staff later this yr.
Johnson is the chairman and CEO of Magic Johnson Enterprises, which additionally holds partial possession within the Washington Commanders (NFL), Los Angeles Dodgers (MLB), Los Angeles Sparks (WNBA), LAFC (MLS) and eSports franchise Crew Liquid.
“It’s a nice honor to welcome Earvin to the Washington Spirit at the moment. From the basketball courtroom to the boardroom, Earvin is aware of tips on how to win, and we’re delighted to rely on his experience as a part of our incredible investor group,” Kang stated in a press release.
“His dedication not solely displays the power of our membership, gamers, followers and model, but additionally sends a strong message concerning the progress and influence of ladies’s sports activities globally. Collectively, we look ahead to taking the Washington Spirit to new heights and galvanizing the subsequent technology of younger ladies and ladies worldwide.”
The Spirit didn’t disclose phrases of Johnson’s funding.
Underneath Kang, the Spirit has grown from a membership that averaged simply over 4,000 followers in 2021 to 1 averaging almost 14,000 followers per recreation this yr.
Kang has since bought controlling stakes in eight-time European ladies’s champions Lyon, and English second-division facet London Metropolis Lionesses. She plans to buy a number of extra golf equipment on totally different continents and create a worldwide community to scale assets.
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