Alexis Mac Allister Phoenix Mercury Phoenix Suns Robert Sarver Joe Tsai Tom Izzo Argentina Mat Ishbia New York Saudi Arabia Newcastle Brighton state Michigan Carabao Cup World Cup 2022 Alexis Mac Allister Phoenix Mercury Phoenix Suns Robert Sarver Joe Tsai Tom Izzo Argentina Mat Ishbia New York Saudi Arabia Newcastle Brighton state Michigan

Mat Ishbia agrees to buy Suns, Mercury for $4 billion

arabnews.com

NEW YORK: Mortgage executive Mat Ishbia has agreed in principle to buy a majority stake of the Phoenix Suns and Phoenix Mercury from the embattled owner Robert Sarver for $4 billion, the sides announced Tuesday.

The sale is expected to take several weeks to complete. Ishbia — who is chairman, president and chief executive of United Wholesale Mortgage, which bills itself as the nation’s largest mortgage lender — will be subjected to a vetting process by the NBA, and once that is complete, the league’s board of governors will have to approve the sale.

The board isn’t scheduled to meet until March, though it could convene virtually if the vetting process is completed beforehand.

Forbes recently listed Ishbia’s net worth at $5.1 billion. Ishbia is a former Michigan State player under coach Tom Izzo, and was a member of the Spartans’ NCAA championship team in 2000. “I am extremely excited to be the next Governor of the Phoenix Suns and Mercury,” Ishbia said in a statement Tuesday night. “Both teams have an incredibly dynamic fan base and I have loved experiencing the energy of the Valley over the last few months. “Basketball is at the core of my life, from my high school days as a player to the honor of playing for Coach Izzo and winning a national title at Michigan State University.

Related News
OXFORD, England: Arsenal set up a fourth-round match with English Premier League title rival Manchester City in the FA Cup by beating third-tier Oxford United 3-0 on Monday.
The Waterford hurlers will cede home advantage in the Allianz Hurling League and the Munster championship this year as work has begun on the redevelopment of Walsh Park.
KUALA LUMPUR: The Asian Champions League is set to be revamped in the 2024-25 season as part of reforms that should add a third club soccer competition for the continent. The marquee Champions League would be cut to 24 teams, instead of the current 40, playing eight guaranteed games in an opening league stage instead of six in a traditional group stage, the Asian Football Confederation said Friday. The proposal echoes changes in Europe’s Champions League which take effect with a new, 36-team league stage in 2024 before the knockout rounds.
RIYADH: Dec. 23 marks a milestone for American coach Lee Starks and his Saudi-founded TKO Fighters gym as one of his prize pupils Sara Al-Shahrani will step into the ring in Yaounde, Cameroon to compete in a WBF international championship event. Al-Shahrani will face Mokam Jeanne in a professional event amateur fight in the 52 kg weight class.

Latest News

Change privacy settings
This page might use cookies if your analytics vendor requires them.