Phoenix Suns Sell For All-Time NBA Record Purchase To Former NCAA Champ

In the largest purchase price ever for an NBA franchise, billionaire Mat Ishbia is buying the Phoenix Suns for the insane price tag of $4 BILLION dollars.

Sources: Billionaire Mat Ishbia is purchasing the Phoenix Suns and Mercury for $4 billion. Robert Sarver has agreed in principle to sell. Ishbia was a national champion on Michigan State‘s basketball team in 2000.

— Shams Charania (@ShamsCharania) December 20, 2022

Ishbia is a former college basketball NCAA national champion, as a member of Michigan State in 2000. He made his fortune as the president and CEO of the top mortgage lender In America, United Wholesale Mortgage, a company founded by his father in 1986.

The package also includes the Phoenix Mercury of the WNBA. Current owner Robert Sarver agreed to sell the franchise after an extensive NBA investigation found that Sarver created a toxic workplace with demeaning, racist and misogynistic behavior. 

At 42, Ishbia would be NBA's youngest principal owner.

Justin Ishbia, a founding partner in Shore Capital, will make a significant investment and serve as alternate governor, sources told ESPN. He is Mat’s brother.

— Adrian Wojnarowski (@wojespn) December 20, 2022

According to reports, he'll also be bringing in his younger brother Justin Ishbia, a founding partner in Shore Capital, will make a significant investment and serve as alternate governor.

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