Magic Johnson Oks Cut In Laker Salary

INGLEWOOD, Calif. - Magic Johnson voluntarily surrendered part of his salary so the Los Angeles Lakers could acquire veteran Terry Teagle and remain under the NBA's salary cap limits, General Manager Jerry West revealed yesterday.

``We didn't have enough money under the cap to pick up Terry's contract without Magic giving up a substantial amount of his own salary,'' West said. Under league rules, teams cannot exceed $11.8 million per year in total player salaries.

``Of course money is great, but I play to win, and that's why I did it,'' Johnson said.

The amount of money Johnson, 31, relinquished was not disclosed, but a source said it was substantial. A report in USA Today placed the figure at $250,000 while The National reported it to be $100,000. Johnson's contract called for a salary of $3.1 million next season.