Magic to Be Owner Again; Threatt Playing in France

Magic Johnson has reached an agreement in principle to become a minority owner and vice president of the Lakers again, as he was before coming out of retirement in January.

An announcement will be made after details are worked out. Johnson is believed to be buying the same 5% he originally purchased in June 1994 for about $11 million, then sold back to Jerry Buss last season for about $12 million to clear the way for the comeback.

As vice president, Johnson will be involved in front-office duties ranging from marketing and promotions to consulting on basketball operations.

Meanwhile, one of his former teammates, Sedale Threatt, has begun his post-Laker life after signing with PSG-Racing in the French league, a team that also includes J.R. Reid. Threatt, a valuable Laker the last five seasons before he was left unsigned to make room for Shaquille O’Neal, scored 22 points in the opener for his new club.