Magic Johnson Buss had given Johnson a contract that paid him $14 million a year, as payback for all the years he was not the league's highest paid player. Although Johnson's retirement prior to the 1992–93 NBA season voided this contract, Buss insisted that he still be paid. It was this arrangement that allowed Johnson to coach the team without receiving any additional salary. After Johnson ended his coaching stint, Buss sold him a 4% stake in the Lakers for $10 million, and Johnson served as a team executive. Johnson's autobiography is Other biographies include: Magic Johnson Earvin "Magic" Johnson Jr. (born
Magic Johnson In 2004, Johnson and his partner Ken Lombard, sold Magic Johnson Theaters to Loews Cineplex Entertainment in 2004. The first Magic Johnson Theater located in the Baldwin Hills Crenshaw Plaza, closed in 2010 and re-opened in 2011 as Rave Cinema 15. Johnson began thinking of life after basketball while still playing with the Lakers. He wondered why so many athletes had failed at business, and sought advice. During his seventh season in the NBA, he had a meeting with Michael Ovitz, CEO of Creative Artists Agency. Ovitz encouraged him to start reading business magazines and to use every connection available