Franchises

WANT A PIECE OF THE BUSS? MAGIC OFFERING 5% OF THE LAKERS

3.12.1998

          Magic Johnson, "eager to divest himself" from his 5%
     ownership stake in the Lakers, "has opened talks with
     outside parties," according to Scott Howard-Cooper of the
     L.A. TIMES.  Johnson, who needs to sell his portion of the
     team before he can begin representing NBA players through
     the management firm he is planning to start, will need
     Lakers Owner Jerry Buss's approval before selling his stake. 
     Howard-Cooper adds that "the list of prospective buyers" for
     Johnson's share "is not known" (L.A. TIMES, 3/12).

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