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The Magic Johnson world, King Midas del Deporte in Los Angeles who failed selling jackets

By hollisterclothingoutlet 08/11/2022 503 Views

The NBA icon controls basketball (Lakers and Sparks), baseball (Dodgers) and the new football franchise of the Major League Soccer

A dilapidated clothing business in 1981 was the prelude to a business empire that has reported a fortune of 500 million dollars

The statistics published by Sports Illustrated rumbled in the American consciousness at the beginning of this decade.60% of the NBA players entered bankruptcy in the five years immediately to their withdrawal from the slopes.Allen Iiverson, especially Manirroto, managed to ruin after winning, between salary and their sponsorship with Reebok, more than 200 million dollars.

Earvin Johnson, always Magic, represents just the opposite.He barely won 18 million salary at his 13th active seasons.They were different times.Instead, its fortune is around 500 million dollars, while the value of its business conglomerate is close to 1.000 million.

Magic is the king's king of sport in Los Angeles.He is co -owners.And also of his subsidiary in Oklahoma.He is president of operations of the Lakers, whose rescue has put in the hands of the Rookie Lonzo Ball.He is co -owner of Los Angeles Sparks, with three rings of the female wnba.But it also has a participation in Los Angeles Football Club, a new franchise that will participate in the Major League Soccer from next year.In the adventure they have invested former soccer player Mia Hamm or actor Will Ferrell.

Son of a garbage dump that doubled at General Motors, Basketball Legend, Mediator in Racial Conflicts, Philanthropist, Conference in HIV Prevention Courses...But, above all, Magic is a great investor.«From a very young age, Earvin knew what he wanted to do.I had everything planned ».The words of his sister Evelyn corroborated them once retired in a statement of intentions that meets Rajataba: «My dream was to play in the NBA [five rings with the Lakers and three times MVP of the season].But also being a businessman ».

Forbidden to open the sports section

El Mundo Magic Johnson, el rey Midas del deporte en Los Ángeles que fracasó vendiendo chaquetas

Success magazine reflected a powerful anecdote.Magic, in the seventh year of his career as a basketball player, already worried about him after his retirement, he went to visit Michael Ovitz, co -founder of Creative Artists Agency, one of the great Hollywood agencies.«Michael dropped the newspaper in front of me.And he asked me: 'When the newspaper comes to you, what do you read first?'And I replied that he opened the sports section ».Magic received a verbal tortazo: «Incorrect answer.From now on, if you want to get involved in business, you have to read about business ».

Muhammad Ali, when he had already left his boxing gloves accumulating dust in the barn, used to relax and deny his incipient Parkinson on long walks towards an McDonald's.I loved that.Ali was always Magic's greatest vital reference, dazzled by the ability of the former world weavyweight champion to transcend beyond sport.Although Magic, hamburgers inspired him in another way.

In 2004, the former basketball player acquired 29 establishments from Burger King.These were times when Magic had already learned his great lesson.He had to disregard his navel and listen to those who buy.Something he did not do in his first foray into the world, in 1981.Opened a chain of sporting stores called Magic 32.One of his star products was a leather jacket that, in reality, he only liked him.But not to its customers.Maybe because the design was terrible and cost each 1.500 dollars.The business lasted a year, and the jackets stayed in the hangers.

The machinery, however, soon began to work.He founded in 1987, in Beverly Hills, his own conglomerate (Magic Johnson Enterprises), and the tickets flowed.It took a Pepsi distributor, bought 4.5% of the Lakers in exchange for 10 million dollars -then sold the shares for a figure between 50 and 60 million-.He also opened cinemas, producers, was made with 125 Starbucks franchises that would later be missed, acquired participations in banks, gyms inaugurated, founded a cable channel (aspice) for the African -American community, invested in a digital content company dedicated toLatin market and even on a platform that helps find work in the technology industry to communities in difficulties.

As if that were not enough, it is part of the Spanish Ferrovial of the Great Hall Partners Consortium, which last August signed a contract to remodel and take care of the commercial exploitation of the Jeppesen terminal of Denver airport.

In the Magic empire you never put the sun.

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