Billionaire Ishbia to buy Suns for US$4 billion: ESPN

Billionaire Mat Ishbia will buy the National Basketball Association's (NBA) Phoenix Suns and women's team the Phoenix Mercury for US$4 billion, ESPN reported on Tuesday.

The deal would set a record in the league after Joe Tsai bought the remaining stake in the Brooklyn Nets in 2019 in a deal that valued the team at US$2.35 billion.

The Suns did not immediately respond to a request for comment.

Owner Robert Sarver announced plans to sell the team in September after the NBA handed him a one-year suspension following an investigation into allegations of workplace misconduct.

American Ishbia is president and CEO of United Wholesale Mortgage in Michigan.