Los Angeles, CA (SportsNetwork.com) - The Los Angeles Sparks will reportedly be owned by a group featuring Magic Johnson.
According to the Los Angeles Times, an investment group led by Johnson and Dodgers controlling owner Mark Walter will purchase the team.
The current owners, Williams Group Holdings, had reportedly told the WNBA in December of its plans to walk away from the franchise.
The Sparks were owned by late Lakers owner Jerry Buss, who sold his stake in 2006 to a group led by Kathy Goodman and Carla Christofferson. Williams Group Holdings became the primary investor the following year.
Established in 1997 as one of the WNBA's original franchises, the Sparks won league titles in 2001 and 2002.