Former NBA Star Magic Johnson to Take a Shot at Running Burger King Eateries
2004-06-07
The Atlanta Journal and Constitution

Jun. 8--Basketball legend Magic Johnson is trying his hand at a new all-American venture -- selling burgers.

The NBA Hall of Famer announced Monday that his company, Magic Johnson Enterprises, will buy 30 Burger Kings in four cities, including five in Atlanta.

"With these restaurants, we expect that as time passes, new jobs will be created and relationships with minority contractors will be strengthened in these four important cities," Johnson, chairman of Magic Johnson Enterprises, said in a statement.

Clyde Rucker, a Burger King senior vice president, said the stores might showcase memorabilia from the former Los Angeles Lakers's career but will not bear his name. Some of the Atlanta stores might be renovated, Rucker said.

Rucker said the Atlanta stores are in the urban core, although he did not know specific locations. The deal includes the purchase of eight stores in Birmingham, three in Miami and 14 in Dallas.

Burger King approached Johnson about the partnership. The locations were selected because they present a opportunity for financial growth and because of community need, Rucker said.

"They are areas that we believe can benefit from having somebody like Magic Johnson be a part of the community," he said.

The deal is scheduled to take effect July 1. Financial details weren't released.

Magic Johnson Enterprises owns Starbucks and T.G.I. Friday's franchises and operates music, film and television production companies. The company also develops movie complexes in underserved communities and operates an entertainment company that promotes special events and tours.

"Magic Johnson is a proven entrepreneur," Rucker said. "We see him primarily as an entrepreneur that can be an integral part of our success in these communities."

Burger King officials also said the deal will help increase the number of minority-owned franchises. Of more than 11,220 Burger Kings, about 1,100 are minority-owned, according to a company spokesman. Black business owners operate 227 of those franchises.

Although I am happy that Magic is doing so well, I am distressed that he decided to go with a "fast food" franchise. You would think that he would attempt his hand at some sort of franchise that promotes healthy eating or at least something that is not taking our people out at such a rapid rate. I hope that I am not being judgemental.

quote:

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Originally posted by AudioGuy:
Although I am happy that Magic is doing so well, I am distressed that he decided to go with a "fast food" franchise. You would think that he would attempt his hand at some sort of franchise that promotes healthy eating or at least something that is not taking our people out at such a rapid rate. I hope that I am not being judgemental.

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Sounds resonable to me. I was thinking the same thing myself.

i'm happy for him. He is putting stores where others have run from. I like the Magic Movie houses. Go Magic

i'm happy for him. He is putting stores where others have run from. I like the Magic Movie houses. Go Magic---RadioRaheem

Precisely.

More success of business in our neighborhoods, the attractive the neighborhood becomes to all business.

Also, the longer non-African American business stays out the better becomes the opportunity for African American-Americans.

Banks will, reluctantly, lend/invest where there is success.

Reluctantly.

PEACE

Jim Chester

quote:

Originally posted by AudioGuy:
Although I am happy that Magic is doing so well, I am distressed that he decided to go with a "fast food" franchise. You would think that he would attempt his hand at some sort of franchise that promotes healthy eating or at least something that is not taking our people out at such a rapid rate. I hope that I am not being judgemental.

Peace and Blessings,

My sentiments as well.

Peace,
Virtue