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Magic Johnson Joins Ranks Of Other Celebrity Sports Franchise Owners With Dodgers Buy (PHOTOS)

The Huffington Post  |  By Posted: 03/28/2012 2:25 pm Updated: 03/29/2012 10:36 am

Magic
Jay-Z, partial owner of the Nets, is among the rich and famous to move beyond their field into sports team ownership.

Magic Johnson is expected to become the latest celebrity to own a sports team after he and other investors agreed to buy the Los Angeles Dodgers for $2 billion late Tuesday. Johnson, an NBA Hall of Famer who once owned a share of the Lakers, is better known for his drives to the basket than hitting a curveball (as was Charlotte Bobcats owner Michael Jordan, for that matter), so Magic's leap into Major League Baseball is a little surprising.

Johnson joins an impressive list of the rich and famous who compete outside their chosen field as team owners.

Click onward to meet five unlikely celebrities who purchased pro franchises -- and find out if they won or lost.

Jay-Z, New Jersey Nets
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The rapper and impresario bought a reported $1 million to $1.5 million stake in the NBA's New Jersey Nets in 2005 that is now worth more than $4 million, Forbes reported. But the name value that he brought the struggling team is immeasurable. The Nets' worth as a franchise could climb to $500 million when they set up residence at Barclays Center in Brooklyn next season, Forbes said. Ownership has its privileges: Jay-Z will help design the uniforms and open the arena with a series of concerts.
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