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Magic Said To Be Partner In Quicken Founder’s New Biz

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DETROIT (AP) – Looks like Magic Johnson is about to join Quicken Loans founder Dan Gilbert’s team in Detroit.

Gilbert’s camp says they’re announcing a “sports legend and Hall-of-Famer” will be joining his venture capital company. Gilbert, who recently moved his lending company from Livonia to Detroit, has big plans to develop the Motor City through his Detroit Venture Partners, and the owner of the NBA’s Cleveland Cavaliers says the sports legend will be introduced Thursday morning as the newest member.

Meantime, Johnson, the former Michigan State Spartan and L.A. Lakers great, tweeted that he’ll be “making a big announcement in Detroit” and looks forward to helping put people back to work in Michigan. However, nobody’s confirming anything just yet.

The Detroit Venture Partners endeavor focuses on entrepreneurship and technology to create jobs in Detroit.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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