Phoenix Suns, Mercury Valued at $4 Billion in Record NBA Deal
- Ex-college player Ishbia to buy 50%-plus stake with brother
- Current owner to exit after NBA cited slurs, harassment
This article is for subscribers only.
Mat Ishbia, the billionaire chief executive officer of United Wholesale Mortgage, agreed to buy a majority stake in the Phoenix Suns in one of the biggest deals in National Basketball Association history.
The deal involves more than 50% ownership of the Suns and the WNBA’s Mercury and values the teams at $4 billion, according to a statement confirming earlier reports by Bloomberg News and others. It includes the entire stake of current owner Robert Sarver, as well as a portion of holdings by minority partners.