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Magic Johnson Accused in $350M Dodgers Deal Probe as NBA

2026-09-08 · Magic Johnson · Opinion

Magic Johnson Accused in $350M Dodgers Deal Probe as NBA

Magic Johnson is at the center of a major financial investigation while simultaneously celebrating the NBA's upcoming season. The Los Angeles Lakers legend has been accused by journalist Pablo Torre of being a key figure in a complex $350 million transaction related to the 2012 sale of the Los Angeles Dodgers. This comes as Johnson publicly endorsed the league's high-profile opening night matchups for the 2026-27 season, set to tip off in October.

What is the $350 million allegation against Magic Johnson?

Investigative reporter Pablo Torre alleges a questionable financial deal involving Johnson and Dodgers co-owner Mark Walter. On his podcast 'Pablo Torre Finds Out,' Torre reported that Walter's media company received a $350 million loan from EquiTrust, a life insurance company. The transaction is under scrutiny because Walter was in the process of selling EquiTrust to Johnson, his fellow Dodgers co-owner, at the same time.

Torre suggests the deal was structured to avoid securities law violations. Former Miami Marlins president David Samson commented on the situation, tying it to Walter's record $2.15 billion purchase of the Dodgers in 2012. Samson implied Johnson's iconic status in Los Angeles was used to help the deal, describing it as "like walking around with the pope."

How did Johnson react to the NBA's 2026-27 schedule?

Separately, Magic Johnson enthusiastically praised the NBA's opening night schedule for the new season. On September 6, 2026, he took to X to applaud commissioner Adam Silver. Johnson highlighted the first game between the New York Knicks and the Philadelphia 76ers, a team now led by LeBron James.

"Wow! Basketball fans all over the world should give NBA Commissioner Adam Silver a standing ovation," Johnson wrote. He noted the Knicks will receive their championship rings that night, with stars like LeBron James, Jaylen Brown, Joel Embiid and Tyrese Maxey all playing.

What is the background of the Dodgers ownership deal?

The controversy stems from the 2012 purchase of the Dodgers. Mark Walter and his Guggenheim group bought the team for over $2 billion with Magic Johnson as a co-owner. Torre's reporting focuses on how Walter financed that purchase. The allegation is that Walter loaned himself more than $300 million through EquiTrust while announcing its sale to Johnson, a transaction that had not yet closed.

"One can imagine that part of the whole deal here was, I need to be able to say that I'm not doing this Mark Walter to Mark Walter, and I need you, Magic, I need to wear you as a costume," Torre said, summarizing his findings. This complex financial arrangement is now under public examination.

  • Key Allegation: Pablo Torre accuses Magic Johnson of being central to a $350 million loan deal related to the Dodgers' 2012 sale.
  • NBA Endorsement: Johnson publicly praised the NBA's 2026-27 opening night, featuring LeBron James's 76ers debut against the champion Knicks.
  • Financial Scrutiny: The deal is questioned for potentially avoiding disclosure as an affiliate transaction under securities law.
  • Historical Context: The deal enabled Mark Walter's group to buy the Dodgers for a record $2.15 billion over a decade ago.

Johnson remains a prominent figure across sports and business. The financial allegations present a serious matter for the Hall of Famer's business legacy, while his basketball commentary continues to draw significant attention.

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