Prior to the start of the season, the NBA released its findings of a year-long investigation into Phoenix Suns and Mercury owner Robert Sarver over allegations of fostering a hostile workplace, including examples of racism and sexism in the workplace, and handed down a $10 million fine and a year-long suspension of Sarver.
That punishment did not satisfy many, including Suns star Chris Paul, LeBron James, and even one of the Suns’ minority owners, as public pressure mounted for the league to do more. Ultimately, Sarver announced he would look to sell the Suns and Mercury, and it seems three months into the sale process that a new owner has been found. According to ESPN’s Adrian Wojnarowski, billionaire Mat Ishbia will purchase the teams from Sarver, with a deal expected to be completed “in the near future” for around $4 billion.
ESPN Sources: Ishbia's purchase price is in the neighborhood of $4 billion. https://t.co/HzH2XSspHp
— Adrian Wojnarowski (@wojespn) December 20, 2022
Ishbia is the chairman and CEO of United Wholesale Mortgage, and was a member of Michigan State’s basketball team from 1998-2002 before joining and eventually taking over his father’s mortgage company. His shares are reportedly worth $11 billion, so it’s not hard to see how he comes up with the money to purchase the Suns and Mercury. One has to wonder whether his basketball background will be a positive or negative for the Suns, as it could be a good thing that he’ll be so invested in a sport he loves, while also bringing the possibility of him being a bit too meddling in basketball operations by thinking he is an expert in building a basketball team.
That is all to be determined, but after years under Sarver, a change at the top will be a welcome sight for Suns fans and, hopefully, a better situation for team employees.
