Posted on 10/18/2010 3:41:12 PM PDT by library user
Edited on 10/18/2010 4:13:53 PM PDT by Admin Moderator. [history]
Magic Johnson will forever be connected with Lakers history, but he can't be called part-owner of the team any longer.
Johnson sold his ownership stake in the Lakers, about 4.5%, to influential season-ticket holder Patrick Soon-Shiong, the team said Monday.
(Excerpt) Read more at lakersblog.latimes.com ...
Magic is a smart guy.
Pro sports are a luxury that has peaked.
If he is in ill health, he is liquidating his holding to give to his family before Obama’s Death Taxes rip off his estate.
He should have kept his investment in the Lakers and dumped the other stuff.
wonder if the 15% capital gains had anything to do with it. Why not wait until next year Magic and paid Obama’s new capital gains?
As opposed to what the NHL and MLB?
The ONLY major pro league that may not have peaked is the NFL.
His wife said he’s completely free from AIDS. I’ve seen him on TV a few weeks ago and he looks just the same as he did when he gave that press conference announcing he had the disease.
Exactly. Zero’s tax rates hitting. Magic wants out while he can.
Basketball lost 800 million last year. Few stars and a bit too much “ours” vs. “theirs” for those that can afford tickets.
The NHL is getting a resurgence thanks to The Winter Classic and bright new stars, as well as tickets being cheaper than the other big 4 sports. Lacrosse may not be too far behind in surging.
NHL revenue and salaries are falling.
That is the bottom line.
Only hardcore hockey fans care about The Winter Classic and bright new stars.
You can make the same argument for the NBA about bright new stars,World Championships,the globization of the NBA and its growth in Europe and China.
Only WASP in the Northeast care about Lacrosse. Not even close. Major League Soccer is far more major league than major league lacrosse.
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