Mat Ishbia Finalizing A Deal To Be New Owner Of Phoenix Suns And Mercury

FILE -Former Michigan State player Mat Ishbia laughs as he are introduced along with Michigan State’s 2000 national championship NCAA college basketball team during halftime of the Michigan State-Florida game in East Lansing, Mich. Mortgage executive Mat Ishbia has agreed in principle to buy the Phoenix Suns and Phoenix Mercury from the embattled owner Robert Sarver for $4 billion, a person with knowledge of the negotiations told The Associated Press on Tuesday, Dec. 20, 2022. (AP Photo/Al Goldis, File)

With all the drama surrounding Robert Sarver and the Phoenix Suns. There seems to be a conclusion on the horizon. As sources are saying that billionaire mortgage lender Mat Ishbia is finalizing a purchase of the Phoenix Suns and Mercury for $4 billion dollars. Ishbia is president and CEO of United Wholesale Mortgage which is located in Detroit, Michigan. Ishbia was a walk on for the Michigan State basketball team which won the NCAA championship back in 2000. With the sale, it is going to end allegations of racism and misogyny during Sarver’s 17 years as owner.

BREAKING: Billionaire mortgage lender Mat Ishbia is finalizing a purchase of the Phoenix Suns, sources tell ESPN. The deal, expected to be completed in the near future, would end the tumultuous tenure of owner Robert Sarver.

— Adrian Wojnarowski (@wojespn) December 20, 2022