LA
12/18/2010 05:12 am ET Updated May 25, 2011

Magic Johnson Sells Lakers Shares To Billionaire Doctor Patrick Soon-Shiong

LOS ANGELES -- Magic Johnson has sold his shares in the Lakers for an undisclosed sum to a billionaire doctor.

The team announced Monday that Dr. Patrick Soon-Shiong, a season-ticket holder for 25 years, bought Johnson’s stake in the team.

Johnson paid a reported $10 million for his stake in ownership in 1994.

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