ESPN.com · Dec 20, 2022
Sources: Mat Ishbia finalizing Suns purchase for $4 billion
Billionaire mortgage lender Mat Ishbia is finalizing a purchase of the Phoenix Suns and WNBA's Mercury for a record price of $4 billion, sources told ESPN on Tuesday.
The deal, expected to be announced as soon as Tuesday, will end the tumultuous tenure of owner Robert Sarver.
Justin Ishbia, a founding partner in Shore Capital, will make a significant investment and serve as alternate governor, sources told ESPN.