Magic Johnson
Another of the top bids comes from a team headed by Lakers legend Magic Johnson, who is believed to have the highest total offer on the table. Johnson has interests in many business ventures including movie theaters, a movie production studio and a promotional company. While his current bid may be the highest, it isn’t the most liquid as far as free flowing cash goes, which might be a deal breaker for McCourt since he’s looking to pay a settlement of $130 million to his ex-wife by April 30th.
On the other hand, Magic is by far the most well-known and local figure and a clear fan favorite—things that would bring invaluable credibility in the early going.
[Magic Johnson via]
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