Magic Johnson has purchased the Los Angeles Sparks. (Facebook/Los Angeles Sparks)
Magic Johnson and Mark Walter are purchasing the Los Angeles Sparks, according to numerous reports.
The WNBA approved the purchase today.
The Sparks, one of the WNBA’s original 8 teams, was in serious trouble in recent weeks, following the announcement by then-owner Paula Madison that her company would no longer be able to operate the team, citing millions in losses since purchasing the team from the Buss family in 2007.
Since then, the league has taken control of the team while new owners were found. The Golden State Warriors from the NBA had expressed interest in the past, proposing to move the team to northern California – home of the strong Stanford and California (UC Berkeley) women’s college basketball programs.
Due to the Sparks’ uncertain future and potential relocation, the WNBA had not been able to formulate next season’s schedule, and were stalled in free agency and collective bargaining agreement talks.
That is all bound to change following the announcement of Johnson and Walter’s ownership group, which will also include Todd Boehly, Bobby Patton, and Dodger’s president Stan Kasten.