The Lakers are the biggest brand in the NBA, and the reported price of the deal is a record $10 billion. They have won a total of 17 championships, with 11 coming since the Buss family took over. NBA legend Magic Johnson was a member of five of those championships, and he's excited about this massive transaction.

The Buss family has agreed to sell it’s controlling stake of the Los Angeles Lakers franchise to TWG Global CEO Mark Walter for a record $10 billion, according to multiple reports. The news comes three months after the Grousbeck family reached an agreement to sell the Celtics to William Chisholm for a then-record $6.1 billion.

"Best caretaker of the Laker brand" - Magic Johnson says the L.A. Lakers are in good hands with Mark Walter originally appeared on Basketball Network. Los Angeles Lakers legend Magic Johnson was one of the first to celebrate the news that the NBA franchise he led to five championships during the 1980s has been sold for a record $10 billion.