The sale of the Phoenix Suns and the Phoenix Mercury to billionaire mortgage lender Mat Ishbia is expected to be finalized within the next two weeks, according to ESPN's Baxter Holmes and Adrian Wojnarowski.
Jan 19, 2023; Phoenix, Arizona, USA; Incoming Phoenix Suns owner Mat Ishbia sits courtside against the Brooklyn Nets in the first half at Footprint Center. Mandatory Credit: Mark J.
Ishbia has been the CEO and chairman of United Wholesale Mortgage since 2013 when he took over for his father. He took the company public last year at a valuation of $16.1 billion. At 43 years old, Ishbia will be the youngest owner in the NBA – narrowly beating out 44-year-old Memphis Grizzlies owner Robert Pera.
Suns head coach Monty Williams told reporters he spoke with the team's new owner after Ishbia attended Phoenix's first home game this past Friday. Williams called it"great for the team, the organization and the community to have someone like Mat in place." "It was short, but everything that I've heard about Mat and his family and the way he runs his business has been pretty cool to hear all that," Williams said."Getting a chance to talk to him [Friday] was something that I had been looking forward to, but I'm sure our fans can finally say, hey, that's our guy and move forward."
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