Mat Ishbia to Purchase the Phoenix Suns and Mercury from Robert Sarver
The billionaire mortgage lender is reported to be taking over Sarver’s controversial tenure.
Fans of the Phoenix Suns have been through a tough 2022. Following a brutal game seven collapse to the Dallas Mavericks, an NBA investigation of franchise owner Robert Sarver revealed an alleged trail of misogyny and racism. Having to pay $10 million USD in fines alongside serving a one year suspension from the Phoenix Suns and the WNBA’s Phoenix Mercury, Sarver was quick to share his intent to sell both franchises. Now, ESPN’s Adrian Wojnarowski has reported that a deal to sell both franchises is nearing completion.
The interested party is United Wholesale Mortgage president and CEO Mat Ishbia. Ishbia, a former basketball player for the historic Michigan State University roster that appeared in three Final Fours, winning the NCAA Tournament in 2000, has pursued several teams in both the NBA and NFL in recent years. Having narrowly missed out on purchasing the Denver Broncos earlier this year, Sarver now looks to step into a $4 billion USD deal to acquire ownership of the Phoenix Suns and Phoenix Mercury.
Currently, the deal has not been finalized. However, it is expected to go through “in the near future” according to Wojnarowski.
BREAKING: Billionaire mortgage lender Mat Ishbia is finalizing a purchase of the Phoenix Suns, sources tell ESPN. The deal, expected to be completed in the near future, would end the tumultuous tenure of owner Robert Sarver.
— Adrian Wojnarowski (@wojespn) December 20, 2022
The WNBA Mercury are also part of the purchase, sources tell ESPN.
— Adrian Wojnarowski (@wojespn) December 20, 2022
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