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Magic Johnson -- Sealed Lakers Deal from Private Jet

10/19/2010 11:15 AM PDT BY TMZ STAFF

Magic Johnson was literally walkin' on air while selling his 5% ownership stake in the Los Angeles Lakers -- TMZ has learned dude signed off on the multi-million dollar deal while aboard his private jet.

Magic Johnson

Sources close to the NBA legend tell us Magic was on a sky phone on Friday -- en route to a YMCA event in Hartford, CT -- while he closed the deal ... worth approximately $35 million.

After Magic touched down, Johnson's agent Darren Prince tells us the Hall-of-Famer donated two pairs of his Lakers courtside seats -- for 2 regular season games -- along with signed jerseys and raised $48,000 for the organization.

Not a bad day.

For more sports stories, check out tmzsports.com!
13 COMMENTS

No Avatar

1.

Rob    

Not a bad return considering he only paid $10 million. I wish my investements could do that good. Go Bulls !!!

1414 days ago
2.

EZPZ    

stop using the word dude in the crap u guys put online.

1414 days ago
3.

Anon E Mouse    

That's because he is about to become one of the owners of The Pistons.

1414 days ago
4.

dd    

@4 Thanks for the info. I was wondering why.

1414 days ago
5.

jack nesh    

iam so sad to see the magic man sell his share from the lakers .....i always felt that the magic man belong with the laker .....i wish him the best .......

1414 days ago
6.

kp    

he sold his share for about 35 million while sitting on his private jet
then donated 2 tickets and raised 48 thousand for CHARITY
how many zero's are in 35 MILLION

1414 days ago
7.

Tard    

Thought he was gone. Hate basketball. He must be in the guiness book. Never mind.

1414 days ago
8.

jmix    

Drop out of college,fool around on loving wife while in NBA,catch HIV,get thrown out of NBA,make millions and millions of dollars.Some people are born in the ''lucky line''

1414 days ago
9.

MIDNIGHT TOKER    

I thought he was dead,,,,he is still living????

1414 days ago
10.

Guillermoscasa@att.net    

Hmmmm, somethings strange about Irving Johnson cashing out his Laker's interest. Obviously he doesn't need the dinero and his stated reason that he was doing it for his family rings hallow to me. Could it be his HIV is now full blown AIDS, Cookie caught him banging another white girl and wants an expensive DIVORCE or dude wants to be the NBA Commissioner taking that gig from David Stern?
Curiouser & curiouser....
G....

1413 days ago
11.

Bryon    

" He raised $48,000"......but it cost him $100,000 to fly there. Wouldn't it have been better for the Organization if he stayed home and wrote a check?

1413 days ago
12.

rj    

..to all the idiot comments. Magic is repositioning his wealth to create a new team

1412 days ago
13.

Lloyd    

I hope his business venture(s), sales, or financial wheeling and dealings continue, especially if they afford opportunity to bring employment opportunities to more blacks. He is a classic example of someone who comes from a meager position, but utilizes his good fortune to help strengthen the community by investing in them. I really hope that at the end of the day, part of his motivation will be to continue being an example of effective leadership in the black community. Thanks "Magic"!!!

1411 days ago

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