Magic Johnson’s ownership group for the WNBA’s Los Angeles Sparks, which includes notable figures like Mark Walter, Stan Kasten, Todd Boehly, and Bobby Patton, purchased the franchise in 2014 for $10 million. Despite this high-profile investment, Johnson candidly revealed at Invest Fest 2026 that they had yet to make any profit from the team, describing it as a challenging journey. Initially, there was even internal debate within the group about whether to sell the franchise, but they ultimately decided to hold onto it.

The outlook for the Sparks and the broader WNBA is now significantly brighter. The league is experiencing its peak with record-high viewership, increased investments, and rising player salaries, signaling a more promising future. Forbes valued the Los Angeles Sparks at $350 million in 2026, ranking seventh among WNBA teams, and noted that the average WNBA team value surged 52% from $272 million in 2025 to $414 million this year. Johnson emphasized the importance of patience, expressing relief that the ownership group didn’t sell the franchise prematurely.

This turnaround highlights the growing financial strength and market interest in women’s professional sports. Johnson’s approach reflects a broader trend among savvy investors who recognize long-term potential despite early financial challenges. The Sparks’ rising valuation not only benefits ownership but also solidifies the WNBA’s standing as an essential player in the sports industry’s evolving landscape.

Johnson himself has a diverse sports investment portfolio, including stakes in MLB’s Los Angeles Dodgers, MLS’s LA Football Club, and the NFL’s Washington Commanders. His $1.6 billion net worth, largely derived from his ownership in the life insurance company Equitrust, showcases his broader business acumen. The Sparks investment underscores his commitment to supporting and growing women’s sports as a valuable and impactful sector.