Mortgage executive Mat Ishbia has agreed in principle to buy a majority stake of the Phoenix Suns and Phoenix Mercury from the embattled owner Robert Sarver for $4 billion, the sides announced Tues…
to buy a majority stake of the Phoenix Suns and Phoenix Mercury from the embattled owner Robert Sarver for $4 billion, the sides announced Tuesday.
Forbes recently listed Ishbia’s net worth at $5.1 billion. Ishbia is a former Michigan State player under coach Tom Izzo, and was a member of the Spartans’ NCAA championship team in 2000. If the sale closes at $4 billion, it would be the largest purchase in NBA history. Joe Tsai bought the Brooklyn Nets and Barclays Center for $3.3 billion in 2019, and Tilman Fertitta purchased the Houston Rockets for $2.2 billion in 2017.
Justin Ishbia, Mat’s brother, also will be part of the ownership group, pending approval. Mat Ishbia will be the team’s governor, Justin the alternate governor.Brittney Griner and the Phoenix Mercury made the 2021 WNBA Finals after a 19-13 season.“Google-searching people and trying to make assessments about who they are, I think that’s dangerous,” Williams said. “People have done that with me and I just kind of laugh.
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