Magic Johnson joins NWSL’s Washington Spirit as investor

The Washington Spirit of the National Women’s Soccer League announced Thursday that five-time NBA champion Earvin “Magic” Johnson is the team’s new investor.

“I am excited to join the Washington Spirit investor group at such a pivotal time in the club’s history,” Johnson said in a statement.

“Partnering with visionary Michelle Kang and her team to further the growth of the Washington Spirit and the National Women’s Soccer League is an incredible opportunity. I am excited to join the team and do my part to help elevate this organization.”

Johnson, 65, was a star for the Los Angeles Lakers from 1980 to 1996, winning five NBA titles and three MVP awards. He was a 12-time All-Star and was named one of the NBA’s 50 Greatest Players in League History upon his retirement. In recent years, Johnson has ventured into sports business, investing in several teams.

Kang has been the Spirit’s principal owner since early 2022, when she bought the team for $35 million, a then-NWSL record and about 10 times the value of a different NWSL franchise sold two years earlier.

The Spirit had just won the 2021 National Women’s Soccer League championship amid a tumultuous season that included the firing of former coach Richie Burke amid abuse allegations. In the midst of their championship run, the players publicly called on former majority owner Steve Baldwin to sell the team. Kang was a minority owner at the time.

The value of NWSL teams has skyrocketed since Kang’s acquisition, with the record for NWSL team value falling several times this year. The acquisition of Angel City FC by Willow Bay and Bob Iger (the CEO of Disney, the parent company of ESPN) in July set a new high of $250 million.

The sale of Los Angeles-based Angel City FC continues a trend of billionaires flocking to the National Women’s Soccer League, a marked change from its modest launch as an eight-team league in 2013. The National Women’s Soccer League is expected to announce its 16th team later this year.

Johnson is the chairman and CEO of Magic Johnson Enterprises, which also has partial ownership in the Washington Commanders (NFL), Los Angeles Dodgers (MLB), Los Angeles Sparks (WNBA), LAFC (MLS), and esports franchise Team Liquid.

“It is a great honor to welcome Irvin to Washington Spirit today,” Kang said in a statement. “From the basketball court to the boardroom, Irvin knows how to win, and we are thrilled to count on his expertise as part of our impressive investor group.”

“His commitment not only reflects the strength of our club, our players, our fans and our brand, but it also sends a powerful message about the growth and impact of women’s sport globally. Together, we look forward to taking the spirit of Washington to new heights and inspiring the next generation of young women and girls around the world.”

The Spirit did not disclose the terms of Johnson’s investment.

Under Kang’s leadership, Spirit has evolved from a club averaging over 4,000 fans per game in 2021 to a club averaging nearly 14,000 fans per game this year.

Since then, Kang has bought controlling stakes in eight-time European champions Lyon and English second-tier club London City Lionesses. It plans to buy several other clubs on different continents and create a global network to expand its resources.