BREAKING NEWS: Los Angeles Lakers professional Basketball team are overjoyed as Former Legend Magic Johnson Returns as Co-Owner In a monumental announcement, Los Angeles Lakers owner Arte Moreno has officially declared that Magic Johnson , the legendary Star Pitcher and long-time face of the franchise, will return to the organization in 2025 as a co-owner..…view more.

In a historic and emotional move, the Los Angeles Lakers have officially welcomed back one of their most iconic figures. Magic Johnson — the beloved Hall of Famer and five-time NBA champion — is returning to the franchise, this time not as a player or executive, but as a co-owner.

The announcement came earlier today during a press conference held at Crypto.com Arena, where Lakers majority owner Arte Moreno made the stunning declaration. Johnson, who has been synonymous with the Lakers since the 1980s, will now have a direct stake in the future of the team he helped build into a global brand.

> “This is a full-circle moment,” said Johnson, visibly emotional. “The Lakers are family, and I couldn’t be more proud to return home in a role that allows me to help shape the legacy of this great organization for generations to come.”

A Misstep in Reporting?

While the press release briefly referred to Johnson as a “Star Pitcher,” fans and reporters were quick to correct the mix-up. Johnson is, of course, a legendary point guard, not a pitcher — a minor error that drew chuckles but didn’t distract from the gravity of the news.

From Court to Corporate Suite

Magic Johnson’s return comes at a crucial time for the Lakers. After a rocky few seasons marked by inconsistent playoff performances and leadership changes, the franchise is eager to reignite the winning culture that defined the Showtime era — the very era that Magic spearheaded.

Having previously served as the Lakers’ President of Basketball Operations from 2017 to 2019, Johnson brings not only basketball knowledge but also extensive business acumen. His post-NBA career has included major ownership stakes in teams like the Los Angeles Dodgers, LAFC, and the Washington Commanders, along with a sprawling investment empire.

A New Era Begins

Arte Moreno — who is better known in the sports world as the owner of the Los Angeles Angels baseball team — surprised many by becoming a significant figure in Lakers ownership earlier this year. His decision to bring Magic back into the fold is seen as a strategic and sentimental masterstroke.

> “Magic Johnson is the heart and soul of the Lakers,” said Moreno. “There’s no one better to help lead us into the future.”

What’s Next?

As a co-owner, Johnson is expected to have influence not only in business and community outreach but potentially in basketball operations as well. With free agency underway and the Lakers still searching for their next head coach, Johnson’s voice may play a role in shaping critical decisions in the weeks to come.

Fan Reaction

Lakers fans around the world have erupted in joy over the news. Social media is flooded with tributes, highlight reels, and heartfelt messages welcoming Magic home. Many see this as a symbolic reawakening for a franchise that thrives on tradition, excellence, and family.

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One thing is certain: Showtime is back. With Magic Johnson back in the building — this time in the boardroom — the Los Angeles Lakers are entering a bold new chapter in their storied history.