does he own a sports team?
Yes, the Magic Johnson All-Stars.
Magic Johnson
Determined to play competitive basketball despite being out of the NBA, Johnson formed the Magic Johnson All-Stars, a barnstorming team composed of former NBA and college players. 
nba player who won more than 3 championships family feud Magic Johnson which team did he play for? Los Angeles Lakers in what other capacity was he associated with the sport apart from being a player? He was also a coach for the Lakers. in which businesses is he involved? He runs Magic Johnson Enterprises, a conglomerate company that has a net worth of $700 million.
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Magic Johnson [SEP] Magic Johnson All-Stars
Determined to play competitive basketball despite being out of the NBA, Johnson formed the Magic Johnson All-Stars, a barnstorming team composed of former NBA and college players. In 1994, Johnson joined with former pros Mark Aguirre, Reggie Theus, John Long, Earl Cureton, Jim Farmer, and Lester Conner, as his team played games in Australia, Israel, South America, Europe, New Zealand, and Japan. They also toured the United States, playing five games against teams from the CBA. In the final game of the CBA series, Johnson had 30 points, 17 rebounds, and 13 assists, leading the All-Stars to a 126–121 victory over the Oklahoma City Cavalry.