Imagine coming home from college to find your younger sibling practicing basketball, shooting hoops over an 8-foot obstacle. You might question their methods, but Mat Ishbia had a goal in mind: to play in the NBA. And now, with a couple of billion dollars, that dream has become a reality.
Mat Ishbia, the new majority owner of the Phoenix Suns and Phoenix Mercury, was introduced to the public on Wednesday. After the NBA’s approval, Ishbia’s plan to purchase the controlling stake from Robert Sarver is now official. The excitement was palpable at the event, with former Suns players and Phoenix Mayor Kate Gallego in attendance.
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Basketball has always been a big part of Mat Ishbia’s life, and despite not making it to the NBA as a player, he aimed to own a team. Now, as the new owner, his first priority is to clean up the organization. The NBA suspended Sarver in September for workplace misconduct and organizational deficiencies. With the punishment and subsequent sale, Ishbia plans to bring a fresh start to the franchise.
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The deal, which valued the Suns and Mercury at $4 billion, is a historic milestone in NBA sales. Ishbia has big aspirations for the franchise, aiming to make it one of the elite organizations in the NBA and the WNBA. His vision includes creating the best fan experience, community engagement, culture, and winning.
With a talented young roster, including players like Devin Booker and Deandre Ayton, and the leadership of Monty Williams as the reigning NBA Coach of the Year, the Suns have shown promise. The team made it to the NBA Finals in 2020 and has consistently sold out home games. Now, with Ishbia at the helm, the franchise looks forward to a bright future.
As the new owner, Ishbia takes over just in time for the NBA trade deadline. He and his brother, Justin, who will serve as alternate governor, acquired more than 50% of the franchise, placing them in a position of influence.
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Mat Ishbia’s ownership journey has already faced its first challenge. There were reports linking him to Isiah Thomas, a friend and former NBA star who had a controversial past with the New York Knicks. While Ishbia denied any immediate plans to hire Thomas, he remains open to future possibilities.
With a net worth of over $5 billion, according to Forbes, Mat Ishbia brings not only financial power but also a commitment to making the organization one of the best in the NBA. His company, United Wholesale Mortgage, went public in 2021 and stands as a rival to Quicken Loans.
As Mat Ishbia takes charge, the Suns and Mercury can look forward to a fresh start, guided by an owner with a passion for basketball and a vision for success. The future looks bright for these teams as they aim to build a winning culture and provide an exceptional experience for their fans.
FAQs
Q: Who is the new majority owner of the Phoenix Suns and Phoenix Mercury?
A: Mat Ishbia is the new majority owner of the Phoenix Suns and Phoenix Mercury.
Q: What happened to Robert Sarver?
A: Robert Sarver was suspended by the NBA for workplace misconduct and organizational deficiencies.
Q: What are Mat Ishbia’s goals for the franchise?
A: Mat Ishbia aims to make the Suns and Mercury one of the elite organizations in the NBA and WNBA, focusing on fan experience, community engagement, culture, and winning.
Summary
Mat Ishbia has taken over as the majority owner of the Phoenix Suns and Phoenix Mercury, bringing a renewed sense of energy and ambition to the franchise. With a vision to create one of the best organizations in the NBA and WNBA, Ishbia plans to prioritize fan experience, community engagement, culture, and winning. The historic deal, valuing the Suns and Mercury at $4 billion, marks a significant milestone in NBA sales. With a talented roster and strong leadership, the Suns have shown promise in recent years, reaching the NBA Finals in 2020. As Ishbia takes the reins, the franchise looks forward to a fresh start and a bright future under new ownership.
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