Billionaire Mat Ishbia buys the Phoenix Suns: bye-bye, Robert Sarver!

We were just talking about it a few days ago. As a $3 billion bid was on the table to buy out the Phoenix Suns, people wondered who would succeed owner Robert Sarver at the helm of the Arizona franchise. We now have the answer: Mat Ishbia.

C’est Adrian Wojnarowski d’ESPN who dropped the bomb early Tuesday evening: billionaire Mat Ishbia, CEO of United Wholesale Mortgage (a mortgage company), is finalizing the takeover of the Phoenix Suns and the Phoenix Mercury WNBA franchise. An agreement in principle has indeed been reached between Ishbia and Robert Sarver. The sale of the Arizona franchise is estimated at 4 billion dollars (NBA record) and should be formalized in the near future if we are to believe the Woj.

Since the accusations of racism, sexism and misogyny brought against him, the place of the current owner Robert Sarver has been increasingly contested in the NBA universe, so much so that the latter recently decided to throw in the towel and put his franchise for sale. Several potential buyers had come forward, including a group of investors including Jack Selby and Jason Pressman. There were even rumors about the potential involvement of former US President Barack Obama, but it is ultimately the boss of United Wholesale Mortgage who will succeed Sarver.

As stated by Shams Charania of The AthleticMat Ishbia can count on a substantial investment from his brother Justin, who at the same time will become the alternate governor of the Suns.

And for the record, also know that Ishbia has a history of basketball since he wore the colors of Michigan State University between 1998 and 2002 (under the famous coach Tom Izzo), even winning a national championship title in three appearances in the March Madness Final Four.


Source texte : ESPN, The Athletic

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