There Are Now 4 Michigan State Alumni Who Own Professional Sports Franchises
Magic Johnson is already one of the people most synonymous with Michigan State University, given his many triumphs and accolades earned on the basketball court, both as a Spartan and later as a Los Angeles Laker.
Since his playing days ended three decades ago, Magic has made a name for himself as a shrewd businessman and investor, too. He's amassed an estimated net worth of over $600 million, according to The Sporting News, a vast majority of which didn't come from his earnings as a basketball player.
But Magic may have just made his biggest score yet.
According to ESPN, an ownership group that includes Magic has placed the winning $6 billion bid to purchase the Washington Commanders of the NFL. Magic is a minority stakeholder in the group, which is led by Philadelphia 76ers and New Jersey Devils owner Josh Harris.
It's the second time Magic has become part-owner of a franchise belonging to one of the four major professional sports leagues in North America. In 2012, he led a group that successfully bid on and purchased the Los Angeles Dodgers.
Owning an NFL franchise, no matter how small of a share, is one of the safest, most-guaranteed investments out there. The league generated nearly $18 billion in revenue last year, and that's a number that only continues to increase.
It's a fitting union given Johnson's nickname and the seemingly preternatural economic might of the NFL.
Magic is one of four MSU alumni who own professional sports franchises among the four major leagues in North America. The number of Spartans among those owners makes Michigan State one of the most-represented universities in terms of major professional sports franchise proprietorship.