Fanatics announced the appointment of Earvin “Magic” Johnson to its Board of Directors. Johnson joins Mindy Grossman, CEO of WW International and Jerry Storch, Founder and CEO of Storch Advisors and veteran retail executive, as Fanatics’ independent board members.
“It’s an honor to be invited to join the Fanatics Board of Directors. I’ve been impressed with the evolution of the company and its ability to transform the industry over the past several years,” said Johnson. “I am eager to be a part of its future growth and innovation that will continue across multiple sectors.”
Johnson, a member of the Naismith Memorial Basketball Hall of Fame, was a three-time NBA MVP and led the Los Angeles Lakers to five NBA championships throughout his career. Johnson is the Chairman and Chief Executive Officer of Magic Johnson Enterprises, an investment conglomerate that provides products and services focusing primarily on ethnically diverse and underserved urban communities. In 2012, he became co-owner of the Los Angeles Dodgers and holds ownership stakes in the WNBA’s Los Angeles Sparks, Major League Soccer’s Los Angeles Football Club, and eSports franchise Team Liquid. From 1998 to 2010, Johnson’s company-owned more than 100 Starbucks stores as he helped expand the coffee chain throughout urban America.
Through a newly formed fund, Johnson is investing millions of dollars in infrastructure improvement in the United States. He is also one of the leading investors in minority-owned technology companies that include Uncharted Power, a power and data technology company; Jopwell, a hiring recruiting platform; and ShotTracker, a company that makes wearable technology for basketball players that tracks player and ball movement.
“Magic’s success in business rivals that of his success on the basketball court, and we are incredibly excited to have him join our team and help propel Fanatics forward,” said Fanatics Executive Chairman, Michael Rubin. “He’s an NBA legend and a titan in the business world, but more importantly he recognizes and leverages his platform to advance diversity and inclusion across all business sectors. He will provide invaluable direction as Fanatics continues to play a leadership role in reimagining the entire licensed sports industry.”
Photo courtesy Fanatics