Magic Johnson’s $1.15 Billion Asset Leaves Lionel Messi-Backed Inter Miami in the Dust Financially

Just like Michael Jordan and many other legends, Magic Johnson also opted to stay in touch with the sports industry even after retirement in 1996. However, Johnson’s approach is quite different from others. Rather than personally being involved in sports, he played with his business mindset and became part-owner of a series of sports franchises in and out of Los Angeles. Meanwhile, he also had stakes in a popular Los Angeles Football club. Since then, Magic Johnson has been earning quite well from his assets, mainly from the LAFC. As of February 2024, Johnson’s owned LAFC generated revenue of $128 million for 2023. Notably, this is a straight 20% increase in revenue generation compared to the previous year.

However, this is not the only accomplishment Los Angeles FC features. Recently, Sportico evaluated the revenue generation and valuation by Football clubs and posted the “World’s 50 Most Valuable Soccer Clubs 2024 Ranking” on its official website. While the list was topped by Manchester United, there was another standout in the list. Interestingly, Los Angeles FC stands at the 15th position with $128 million in revenue and a 2024 valuation of $1.15 billion. Sounds fascinating, right?

But, there’s more to it. Los Angeles FC not only generated a significant amount but also surpassed Inter Miami FC by $1 million. While Los Angeles’s revenue generation is $128 million, Inter Miami’s earned $127 million last year. But, this is something Inter Miami achieved after welcoming a superstar employee to their Football club. But, why is Inter Miami FC so important?

Inter Miami vs. Los Angeles FC

Even though Inter Miami is just like other FCs, it came under the limelight by hiring a superstar employee. Last season, Inter Miami hired Lionel Messi by signing a contract of $20.5 million per year. After signing the lucrative deal, Messi became the highest-paid MLS player earning $5 million more than the former player.

But, that’s one side of the deal. On the other hand, Inter Miami’s revenue generation boosted too as it went on to sign contracts with sponsors and partners. As expected, the club generated over $200 million in revenue, which is nearly quadruple the 2022 revenue generation of $50 to $60 million.

But, despite such revenue-boosting strategies, Inter Miami was not able to compete with other sports franchises, including Magic Johnson’s Los Angeles Football Club. Now, the question is: Will Inter Miami be able to overcome tough competition from Johnson’s Los Angeles FC with the help of Messi? Or will the situation remain unchanged? Stay tuned to know!