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Magic Johnson Named in $350 Million Dodgers Loan Probe as He

2026-09-06 · Magic Johnson · Player Focus

Magic Johnson is facing scrutiny over his role in a major financial deal related to the Los Angeles Dodgers, even as the NBA legend publicly praises the league's upcoming season schedule. An investigative report alleges the Hall of Famer was a key figure in a $350 million loan that helped help the record sale of the baseball franchise.

What is the Dodgers financial investigation about?

Investigative journalist Pablo Torre has put a transaction between Johnson and Dodgers controlling owner Mark Walter under the microscope. On his podcast 'Pablo Torre Finds Out,' Torre alleged that Walter's company loaned itself $350 million from an insurance firm, EquiTrust, which was simultaneously being sold to Magic Johnson. The core allegation, according to Torre's reporting, is that this arrangement allowed Walter to avoid disclosing an affiliate transaction, potentially skirting securities laws. "Magic Johnson was the key aspect of how Mark Walter wound up loaning himself more than $300 million to enable the purchase of the Dodgers for a record price," Torre stated. Former Miami Marlins president Davis Samson suggested Johnson's iconic status in Los Angeles was use during the 2012 purchase, which saw Walter's group buy the team for $2.15 billion. Samson implied MLB allowed favorable TV deals to help finance that record sum.

How did Magic Johnson react to the new NBA schedule?

Separately, Johnson has enthusiastically endorsed the NBA's plan for the 2026-27 season tip-off. He took to social media to applaud NBA Commissioner Adam Silver for scheduling the New York Knicks against the Philadelphia 76ers, a team now led by LeBron James, on opening night. "Wow! Basketball fans all over the world should give NBA Commissioner Adam Silver a standing ovation," Johnson wrote. He highlighted that the night will see the Knicks receive their championship rings before facing a 76ers squad featuring James, Jaylen Brown, Joel Embiid, and Tyrese Maxey. Johnson also praised the second game of the doubleheader, a Western Conference Finals rematch between the San Antonio Spurs and Oklahoma City Thunder. The Spurs beat the Thunder in seven games last season, sending Victor Wembanyama to his first Finals.

What painful memory did Magic Johnson recently recall?

In a look back at his legendary career, Johnson recently revisited one of his most stinging defeats. In ESPN's documentary "Celtics/Lakers: Best of Enemies," Johnson described crying after losing the 1984 NBA Finals to Larry Bird and the Boston Celtics in seven games. "I get back to the hotel crying. I'm just so upset," Johnson said. "I didn't want to talk to anybody because I wanted to shut the fans up." That series loss, where he averaged 18.0 points, 7.7 rebounds and 13.6 assists, fueled his famous rivalry with Bird and cemented his reputation as a fiercely competitive superstar who despised losing.

  • Key Takeaway: Pablo Torre's investigation alleges Magic Johnson was instrumental in a $350 million loan related to the Dodgers' $2.15 billion purchase.
  • Key Takeaway: Johnson publicly praised the NBA's 2026-27 opening night, headlined by LeBron James's 76ers facing the champion Knicks.
  • Key Takeaway: The Lakers legend recently recalled the deep emotional pain of losing the 1984 Finals to the Celtics, a defeat that drove his competitive fire.

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