Rumors surrounding the apparent return of Magic Johnson
continue to swirl, with Johnson's 5% ownership in the team and
the Lakers' need to fit him under the salary cap the key issues.
Yesterday, NBC, which reported Johnson and the Lakers had worked
out a way for him to sell his ownership, said reported would
announce his comeback at a news conference today and play Tuesday
against the Warriors ("NBA on NBC," 1/28). According to the N.Y.
DAILY NEWS, sources close to Johnson said the network "acted
prematurely" with its announcement and no contract has been
signed (Mitch Lawrence, N.Y. DAILY NEWS, 1/29). Meanwhile, the
BOSTON GLOBE reports Johnson "has neither signed a contract nor
the necessary documentation to divest his ownership, but the
paperwork could be finished" today (Peter May, BOSTON GLOBE,
1/29). ESPN's Keith Olbermann, last night: "ESPN has learned
that while the report that Magic had signed a contract with the
Lakers Sunday was incorrect, that doesn't mean there wasn't one
sitting there waiting ready for him to sign. All the
preparations have been made for Johnson's latest comeback,
including his disposal of his 5% ownership in the franchise.
Several sources insist Johnson could play as early as Tuesday,
but those in the know say he is yet to tell the Lakers his final
plans" ("SportsCenter," 1/29).
