American billionaire mortgage lender Mat Ishbia is completing the purchase of the Phoenix Suns and Women’s NBA team Phoenix Mercury for a record $4 billion, according to multiple reports Tuesday.

Ishbia’s deal to buy the team from embattled owner Robert Sarver was reported by ESPN and The Athletic.

Magic Johnson confirmed the sale plan in a tweet about Ishbia, a fellow former Michigan State basketball player who was part of the school’s 2000 US championship squad.

“I had a great call with fellow Spartan Mat Ishbia congratulating him on his purchase of the Phoenix Suns,” Johnson tweeted.

“He’s going to do great things not only for the Suns organization, but for the entire league. All of the other 29 NBA teams better watch out because Mat’s a winner!”

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