Magic Johnson Interested In Owning Pistons?

There might be a new sheriff in town for the race to rescue the Pistons and his name isn't Illitch. Reports have been surfacing that former Laker and Spartan basketball player, Earvin "Magic" Johnson is interested in buying the ailing "Bad Boys" as part of a group of investors or the Davidson family that put the team on the market. Already a minority owner of the Los Angeles Lakers, should Magic pursue ownership, he'd become a majority owner of the Pistons. That would mean relocating to Detroit, a move sources say is the main reason why Magic may not be interested in purchasing the franchise after all.

A respected business man with a portfolio that includes a joint venture with coffee conglomerate Starbucks, a TGI Fridays restaurant, 13 24 Hour Fitness Magic Sports Centers to name a few, Magic has already attempted to add another basketball franchise to his portfolio in a serious bid for the Golden State Warriors. Joe Lacob and Peter Gruber completed the purchase for an announced $450 million, beating out Johnson and co bidders, setting an NBA record for the Most Money Paid For an NBA Team.

Should Magic make a legitimate play for the Pistons, his group would join the company of four total groups vying for a piece of the "Bad Boys" --  the Mike Ilitch family and two groups led by Houston businessman George Postolos and Beverly Hills billionaire Tom Gores. The fourth interested party is rumored to be from Dubai, United Arab Emirates.
"Somebody back there has to be the majority owner. Be the owner," said Johnson, who would have to sell his five percent interest in the Lakers to work for or own another team.. "That wouldn't be me. But if Ilitch or somebody -- you've got a good guy back there already in Joe Dumars. If somebody said, 'Hey, can you come and think about helping Joe Dumars?' then I would think about it."

No formal bids by Magic or his associates have been made at press time.

Sources: Detroit News, NBA.com

Follow Qiana M Davis on Twitter, http://www.twitter.com/sportsquota