Manager Robert Sarver is reportedly finalizing a deal to sell the Phoenix Suns to billionaire mortgage lender Matt Ishbia, according to NBA insider Adrian Wojnarowski.
BREAKING: Billionaire mortgage broker Matt Ishbia is finalizing his purchase of the Phoenix Suns, sources tell ESPN. The deal is expected to close in the near future and will end owner Robert Sarver’s turbulent tenure.
— Adrian Wojnarowski (@wojespn) December 20, 2022
The deal is reportedly worth $4 billion per Woj. According to Shams Charania of The Athletic, Ishbia will bring in his brother Justin as a key investor and acting governor of the Suns.
ESPN Source: Ishbia’s purchase price is close to $4 billion. https://t.co/HzH2XSspHp
— Adrian Wojnarowski (@wojespn) December 20, 2022
Mr. Thurber and Mr. Ishbia also issued public statements. Sarver called Ishbia “the right leader to build on the franchise’s tradition of winning and community support,” adding that Ishbia is “honored” to be the “next steward of the Phoenix Suns and Phoenix Mercury.” said.
It’s official: Matt and Justin Ishbia have reached an agreement to purchase a majority stake in the Phoenix Suns and Mercury from Robert Sarver: pic.twitter.com/dEe6QGfZJP
— Shams Charania (@ShamsCharania) December 21, 2022
Sarver had been considering a sale to the Suns since he was suspended for a year and fined following a league investigation into allegations of a hostile workplace within Phoenix’s front office. The fine and suspension elicited mixed emotions from players, the players’ union and even the president of the Suns’ ownership organization.
Ultimately, the decision to sell Mr. Sarver will not be as infamous as the firing of Donald Stallings, but it is clear that the NBA will not bow to allegations of racism or suspicions within the league’s franchise front offices. .
