Magic Johnson Taking Another $3 Million Yacht Vacation, Says Cookie

It's that time of year again .... where Magic Johnson and Sam Jackson make you wish you'd have worked on your jump shot more, or spent more time with those weird kids in drama class.

The $3 million dollar Italy vacation is back.

We ran into Cookie Johnson -- Magic's wife -- in Beverly Hills and asked her if the family had summer vacation plans ... "I think we're gonna head to Europe for a little bit."

She ain't talking about no timeshare ... she's talking about a jaunt up the Amalfi Coast that's become a yearly ritual for the Johnson & Jackson families ... all aboard a $700k-a-week superyacht.

When we say superyacht, we mean it too -- this thing has a movie theater, gym, dining room, hot tub, helicopter pad, and an elevator!!!!

Hope you enjoy your summer trip to Disneyland, normies!!