POSTED: Oct 10, 2013 2:28 PM ET
BRISTOL, Conn. (AP) — Magic Johnson won't return to ESPN as an NBA studio analyst.
The Hall of Famer says in a statement released by the network Thursday that because of his busy schedule, "I don't feel confident that I can continue to devote the time needed to thrive in my role."
Johnson is part of the ownership group that agreed to buy the Los Angeles Dodgers in March 2012. Since retiring from basketball, he has been successful in business, investing in movie theaters, a production company and restaurants. He has also been an activist in the fight against HIV after being diagnosed with the virus in 1991.
He expanded his role on ESPN to join "NBA Countdown" in 2011.
Johnson says: "I will always feel a strong connection to the ESPN family and I enjoyed working with them very much."