LA Sparks Bought By Magic Johnson & Dodger Owners

Basketball legend Magic Johnson announced Wednesday that he will become a partial owner of Los Angeles's WNBA team, the Sparks.

Johnson will pair up with L.A. Dodger chairman Mark Walter, Dodger president Stan Kasten, and partial owners Todd Boehly and Bobby Patton to purchase the team, which has been struggling to avoid relocation or closing down, ESPN reports.

Paula Madison, the team's previous owner, announced in December that her company would no longer be able to operate the team. She said she lost at least $12 million due to the team since purchasing it in 2007. The league then took control of the Sparks, and sought a new owner. The Golden State Warriors appeared interested in the team, but it would have required the Sparks to move to the Bay Area.