We had mentioned an offer from relatives of Peter Thiel, perhaps accompanied by the founder of PayPal but also by the sovereign fund of Qatar, to buy the Suns and the Mercury for three billion dollars.
Finally, ESPN announces that the two Phoenix franchises are about to be sold to Matt Ishbia, a billionaire who made his fortune as the head of United Wholesale Mortgage, the American mortgage leader. The purchase price would be 4 billion, a record since Joe Tsai had bought the Nets for 3.3 billion in 2019.
According to BloombergMat Ishbia’s personal fortune is estimated at $5.6 billion.
Above all, the 42-year-old man has the particularity of being a real sports enthusiast, and in particular basketball. In particular, he was part of the Michigan State basketball team during his time at this university from 1998 to 2002. Playmaker with an extremely reduced role (0.6 point and 0.3 average assists in three seasons), he has everything likewise was NCAA champion under Tom Izzo in 2000, before joining his staff as an assistant.
After graduation, Mat Ishbia was even considering a career as a basketball assistant, and he even had an offer to join Mike Garland’s staff at Cleveland State. Eventually, he opted to join United Wholesale Mortgage, climbing the ladder and growing the mortgage business into a giant in the industry.
BREAKING: Billionaire mortgage lender Mat Ishbia is finalizing a purchase of the Phoenix Suns, sources tell ESPN. The deal, expected to be completed in the near future, would end the tumultuous tenure of owner Robert Sarver.
— Adrian Wojnarowski (@wojespn) December 20, 2022
