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Ricardo Sandoval is a Newsweek contributor based in Los Angeles, CA. His focus is sports content. Ricardo has been with Newsweek since 2024 and also writes for On SI for the Lakers, Bucks, Celtics, Pacers, and Trail Blazers sites. Ricardo also is a staff writer for Dodgers Nation. He is a graduate of California State University Northridge. You can get in touch with Ricardo by emailing [email protected]. You can also follow Ricardo on X @_RicardoSand

Contributing Sports Writer

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NBA Hall of Famer and Los Angeles Lakers legend Magic Johnson took to X to react to the Lakers' record-setting $10 billion sale.

More Lakers news: Lakers Sell Valuation Breaks Record in Sports at $10 Billion

Here's what the five-time champion had to say on the sale.

"Laker fans should be ecstatic. A few things I can tell you about Mark - he is driven by winning, excellence, and doing everything the right way. AND he will put in the resources needed to win! I can understand why Jeanie sold the team to Mark Walter because they are just alike - they are competitive people, l have big hearts, love to give back, and both prefer to be behind the scenes. This makes all the sense in the world. I am so so SO happy and excited for @Lakers fans all over the world!!"

Magic Johnson speaks to the fans during the jersey retirement of Michael Cooper during halftime of the game between the Los Angeles Lakers and the San Antonio Spurs at Crypto.com Arena on January 13, 2025... Photo by Katelyn Mulcahy/Getty Images

Prior to that post, Johnson initially sent his best wishes to Jeanie Buss and praised new Lakers owner Mark Walters.

"Job well done to my sister Jeanie Buss for striking an incredible deal and picking the right person to carry on the@Lakers

legacy and tradition of winning - Mark Walter, my business partner and friend! Mark Walter is the best choice and will be the best caretaker of the Laker brand. The proof is in the pudding on what he's been able to accomplish with the LA Dodgers. Mark has been nothing short of a winner, notching 2 World Series and 11 NL West divisional titles in the last 12 years!"

Johnson is well-connected with both teams. The Hall of Famer spent his entire career with the Lakers, bringing them five titles and is arguably the greatest ever to don the purple and gold.

As for his connection to the Dodgers, Johnson holds a minority stake in the franchise. He joined Guggenheim Baseball Management, the group that purchased the team in 2012 for $2.15 billion. While Mark Walter and Guggenheim Partners remain the majority owners, Johnson's $50 million investment earned him a 2.3 percent ownership share.

The 65-year-old Hall of Famer is a winner through and through, and the same could be said for the Lakers and Dodgers. The two franchises are two of the premier teams in their respective sports and certainly in the city of Los Angeles.

More Lakers news: Buss Family Agrees to Sell Majority Ownership of Lakers to Dodgers Owner

Top 5 Biggest Sports Teams Purchases, Including Lakers Historic $10 Billion

For more on the Los Angeles Lakers and general NBA news, head on over to Newsweek Sports.

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