Magic Wants Part-Ownership to Stay as Coach : Pro basketball: Laker owner Jerry Buss is aware of the request, Johnson’s agent says.

Owning a piece of the Lakers will be one of the conditions for Magic Johnson to return as coach next season, Johnson’s agent, Lon Rosen said Sunday night.

However, Rosen said he and Johnson are not using that “as a bargaining chip” with team owner Jerry Buss and emphasized that all of their past conversations with Buss regarding Johnson buying part of the team have been cordial and on a “when you’re ready” basis.

“He doesn’t want a deal where it’s ‘Here’s a little percentage of the team.’ He doesn’t mind spending the money,” Rosen said. “Jerry Buss has always been very fair to him. . . . Jerry has always stated publicly he wants his kids (to inherit the team). We won’t be talking about this really until the season is over.”

Rosen said Buss was aware that Johnson’s return might be contingent upon a part-ownership agreement being reached.

Buss said Sunday that Johnson has a standing offer to buy part of the franchise, but the two have not recently discussed how large a percentage Johnson would purchase or when he would exercise that option.

Buss said the offer has existed “for at least a year and a half, or two years,” but without specific terms. Buss owes Johnson $17 million, including the last contract Johnson signed before retiring for the second time in 1992.

“The Lakers are a very high-price franchise and what he wanted to do was get in on the ground floor in a different situation,” Buss said, referring to Johnson’s failed attempt to secure an expansion team in Toronto last year. “A couple of different opportunities passed . . . I don’t have to tell him again. He knows it’s there. If he’s ready for that, he’ll tell me.”

The Lakers have been valued at $150-175 million in financial publications. Rosen said he has seen the team valued from $175-$250 million.

Buss said his past conversations with Johnson concerning ownership had been casual and did not zero in on how much of the team Buss would be sell.

Buss, who did not attend Johnson’s news conference Wednesday, was a happy spectator Sunday at the Forum for Johnson’s triumphant coaching debut.

“So far, it’s been sensational,” he said. “I can’t think of any better way to start. This is a very special time in my life as a basketball owner. I always considered (appointing Johnson coach) but he never thought he was ready.

“I don’t think he wanted to step in in the middle of the season, but I pointed out all the positives. I then had to push him and it finally got down to asking him for a favor.”