Billionaire Mortgage Lender Mat Ishbia to Purchase Phoenix Suns and Mercury for $4 Billion
[ad_1] The Phoenix Suns and Phoenix Mercury have a new owner. Billionaire mortgage lender Mat Ishbia will purchase a majority stake in both franchises for a record total of $4 billion. According to ESPN, the new deal will end the tenure of current owner Robert Sarvar. Ishbia enters NBA/WNBA ownership with relationships with multiple NBA owners and will have to pass a vote by the NBA board of governors to finish the deal. Mat Ishbia’s brother and a founding partner in Shore Capital, Justin Ishbia, will make a major investment and...