When you hear the name Magic Johnson, you probably think of the legendary basketball player, the guy many consider the greatest point guard of all time. The 5x NBA champion definitely earned his place in basketball history. But there’s a lot more to Magic than just his playing days. Since retiring, he’s worn many hats, including that of a passionate baseball fan.

After the Dodgers’ 18-inning thrilling win over the Blue Jays in Game 3 of the World Series, Magic lit up social media with congratulatory tweets. But calling him just a Dodgers superfan doesn’t quite cover it because his connection to the team runs much deeper. Johnson is a minority stakeholder in the Dodgers!

How Much Money Did Magic Johnson Pay For a Stake in Dodgers Ownership?

Magic Johnson isn’t just a familiar face in the Dodgers’ front row, but he’s part of the team’s ownership group. Notably, when the Dodgers were sold by Frank McCourt back in 2012 for a massive $2.15 billion, Magic invested around $50 million into the deal. And that makes him a minority owner. But thanks to his star power and deep L.A. roots, he’s also become the public face of the franchise.

Plus, baseball isn’t his only venture in the sports world. Magic Johnson has a strong track record as an investor in pro sports.

He bought a 4.5% stake in the Los Angeles Lakers in 1994 and later sold it in 2010 for somewhere between $50 and $60 million. Clearly, he knows his way around both the court and the boardroom.

What is Magic Johnson’s relationship with Mark Walter?

Magic Johnson was one of the loudest voices cheering for Dodgers owner Mark Walter when news broke that Walter was buying the Los Angeles Lakers from the Buss family earlier this year. And there’s a good reason for that.

Magic knows exactly what Walter brings to the table. The two already share a strong partnership through the Dodgers’ ownership group. As Magic put it, “Mark Walter is the right person to take over and lead us for the next 30, 40 years.”

But despite their close bond, there’s no family connection between them. It’s all about friendship and business. They’re teammates off the field as fellow members of the ownership group for both the Dodgers and now the Lakers.

And their relationship dates back to 2012, when Johnson joined Guggenheim Baseball Management, the Mark Walter–led group that bought the Dodgers. From there, their partnership has only grown stronger.