Magic Johnson does not currently own a financial equity stake in the Los Angeles Lakers, though his historical association with the franchise remains legendary. He previously held a significant minority ownership percentage in the team for many years following his retirement from play, and he later served briefly in an official front-office executive capacity as President of Basketball Operations before stepping down. His current multi-billion-dollar sports ownership portfolio focuses instead on other major franchises, including the Los Angeles Dodgers, Los Angeles Sparks, and Los Angeles Football Club.