The Phoenix Suns, an NBA team, and the Phoenix Mercury, a WNBA team, are reportedly to be bought by billionaire Mat Ishbia for the sum of $4 billion.
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This was pushed by the ESPN network on Tuesday.
Needless to say, 2022 has been a pretty hectic year for these Arizona organizations. Last September, ex-owner Robert Sarver was suspended from the Silver Tour for a year after an investigation revealed his inappropriate behavior at work.
A few months earlier, Mercury player Brittney Griner was arrested in Russia for “smuggling” when she was in possession of a vaporizer containing marijuana-containing liquid.
Griner did not return to the country until December 8th. She will also be able to participate in Mercury activities next season.
Those events didn’t stop Ishibia, chairman and CEO of national mortgage company United Wholesale Mortgage, from acquiring these organizations.
In the past, Ishbia had unsuccessfully tried to buy the Denver Broncos and the Washington Commanders, both NFL teams.
In addition, Sarver would increase his profits tenfold with this sale. He bought the Suns in 2004 for $401 million.