September 7, 2024
‘Partnering with a visionary like Michele Kang and her team to advance the growth of the Washington Spirit and the NWSL is an incredible opportunity.’
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Sports legend and successful businessman Earvin “Magic” Johnson has joined the ownership group of the Washington Spirit, a member of the National Women’s Soccer League.
The team announced the move on Thursday.
Johnson joins Michele Kang, the first woman of color to hold a majority stake in an NWSL team, who became the Spirit’s principal owner in early 2022 after buying the team for $35 million. At the time of her purchase, Kang set an NWSL record, paying nearly ten times the valuation of another franchise sold just two years earlier, according to ESPN.
“I’m excited to join the Washington Spirit’s investor group at such a pivotal time in the club’s history,” Johnson said in a statement. “Partnering with a visionary like Michele Kang and her team to advance the growth of the Washington Spirit and the NWSL is an incredible opportunity. I’m excited to join the team and play my part to help elevate this organization.”
In a statement, Kang said Johnson “knows how to win, and we are delighted to count on his expertise as part of our fantastic investor group.”
Johnson, 65, is the chairman and CEO of Magic Johnson Enterprises, which also holds partial ownership in the Washington Commanders (NFL), Los Angeles Dodgers (MLB), Los Angeles Sparks (WNBA), LAFC (MLS), and the eSports franchise Team Liquid.
“His commitment not only reflects the strength of our club, players, fans, and brand but also sends a powerful message about the growth and impact of women’s sports globally,” Kang said. “Together, we look forward to taking the Washington Spirit to new heights and inspiring the next generation of young women and girls worldwide.”
The NBA Hall of Famer appeared on CBS Mornings with Kang to share his plans for helping to grow the sport of women’s soccer. He also shared his inspiration for taking ownership of the “first-class organization” and aligning with Kang’s global work in women’s soccer.
“Michelle has a first-class organization,” Johnson says of Kang and the Spirit. “What she’s done for women’s soccer all over the world, not just here in the NWSL, it’s important that owners love to not only win on the field, like Michele does, but also in the community.”
The Lakers champion noted how “excited” he is to partner with Kang and showcase a diverse ownership group.
“When you look at us, two minorities who try to climb the ladder first, and my sport is basketball, and then transition to business, I want to be an example for others to follow,” Johnson explained.
Since Kang took over, the Spirit has grown from averaging just over 4,000 fans per game in 2021 to nearly 14,000 per game this year. Kang has since acquired controlling stakes in the eight-time European women’s champions Lyon and the English second-division team London City Lionesses. She intends to acquire additional clubs across various continents, aiming to build a global network to scale resources.
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