Phoenix Suns, Mercury Valued at $4 Billion in Record NBA Deal

Mat Ishbia, the billionaire chief executive officer of United Wholesale Mortgage, agreed to buy a majority stake in the Phoenix Suns in one of the biggest deals in National Basketball Association history.

The deal involves more than 50% ownership of the Suns and the WNBA’s Mercury and values the teams at $4 billion, according to a statement confirming earlier reports by Bloomberg News and others. It includes the entire stake of current owner Robert Sarver, as well as a portion of holdings by minority partners.

Mat Ishbia

Source: Businesswire

Ishbia is buying the teams with his brother, Shore Capital Managing ...