Mat Ishbia

Billionaire and former Michigan State basketball player Mat Ishbia finalized the purchase of the Phoenix Suns and Mercury from Robert Sarver.

It was not immediately clear if buying the Suns would take him out of the process with the Commanders. “Basketball is at the core of my life, from my high school days as a player to the honor of playing for Coach Izzo and winning a national title at Michigan State University. Ishbia has been mentioned before as a possible buyer of pro franchises, and he is a prominent Michigan State donor. We are so honored to be, with approval by the NBA, the next steward of the Phoenix Suns and Phoenix Mercury.” Mat Ishbia, 42, is chairman and CEO of mortgage lender United Wholesale Mortgage, based in Michigan. He is also an investor in United Wholesale Mortgage, founded by the brothers’ father, Jeff. He played in 48 games for Izzo during his time as a walk-on guard in East Lansing. I know he shares my unwavering support for women’s basketball and I look forward to watching him become a unifying force across the Valley of the Sun.” The $4 billion sale is the largest purchase in NBA history. Congrats to my guy and college teammate Ish! “As a former collegiate basketball player and national champion, Mat has exactly the right spirit, commitment and resources to pursue championships. Both teams have an incredibly dynamic fan base and I have loved experiencing the energy of the Valley over the last few months,” Mat Ishbia said in the release.

Mat Ishbia is finalizing a purchase of the Phoenix Suns and WNBA's Mercury for $4 billion, sources told ESPN's Adrian Wojnarowski. The deal would end the ...

"I am extremely excited to be the next Governor of the Phoenix Suns and Mercury," Mat Ishbia said in a statement. He has remained close with Hall of Fame coach Tom Izzo, and he previously made a $32 million donation to the basketball program. As part of the league's punishment, announced on Sept. "We haven't heard from anyone involved in the process," Selby and Pressman told ESPN. Ishbia is well-known and well-regarded within the league office, including with commissioner Adam Silver, and has developed relationships with a number of NBA owners. [Brooklyn Nets](/nba/team/_/name/bkn/brooklyn-nets) for an NBA-record $2.35 billion in 2019.

Record transaction for basketball teams from mortgage billionaire and brother will require NBA approval.

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Ishbia, who played basketball at Michigan State, is purchasing the teams from embattled owner Robert Sarver.

When the league announced Sarver's one-year suspension, players including [LeBron James](/nba/players/400553/lebron-james/) and the Suns' [Chris Paul](/nba/players/555969/chris-paul/) [criticized it for being too lenient](https://www.cbssports.com/nba/news/lebron-james-chris-paul-call-out-nba-over-robert-sarver-punishment-our-league-definitely-got-this-wrong/). We are so honored to be, with approval by the NBA, the next stewards of the Phoenix Suns and Phoenix Mercury." The purchase price will be $4 billion, and the deal is pending [NBA](/nba/) approval. I appreciate Robert Sarver's time and support throughout the process. After graduating from MSU's business school, he started working at UWM, and in 2013 he was named CEO, succeeding his father, Jeff Ishbia, who founded the Michigan-based mortgage lending company. In basketball, though, Ishbia has a personal history: He was a walk-on for the Michigan State Spartans from 1999-2002, and won a national championship in 2000.

Ishbia, a graduate of Michigan State and a walk-on to the Spartans' basketball team, is set to buy the team for approximately $4 billion.

New Orleans Pelicans guard CJ McCollum, president of the National Basketball Players Association, thanked Sarver “for making a swift decision that was in the best interest of our sports community.” “Mat is the right leader to build on franchise legacies of winning and community support,” Sarver said in a statement. I expected that the commissioner’s one-year suspension would provide the time for me to focus, make amends and remove my personal controversy from the teams that I and so many fans love,” Sarver said. [NBA had suspended him for one year](https://www.washingtonpost.com/sports/2022/09/13/nba-suspends-robert-sarver-phoenix-suns/?itid=lk_inline_manual_23) and fined him $10 million. Though the Suns have never won a championship since joining the NBA in 1968, they have reached the Finals three times and have featured MVPs Charles Barkley (1993) and Steve Nash (2005 and 2006). We are so honored to be, with approval by the NBA, the next stewards of the Phoenix Suns and Phoenix Mercury.” Sarver purchased the Suns for $401 million. “I am extremely excited to be the next Governor of the Phoenix Suns and Mercury,” Ishbia said in a statement. Train them, coach them to be the best version of themselves, like Izzo used to do with us. “Get the best people to join your team. [a member](https://www.sports-reference.com/cbb/players/mat-ishbia-1.html) of Michigan State’s NCAA championship team in 2000. Investigators concluded that Sarver repeatedly used racist and misogynistic language in the workplace, among other examples of misconduct.

Billionaire mortgage lender and former Michigan State basketball player Mat Ishbia is finalizing a purchase of the Phoenix Suns and Phoenix Mercury from ...

It was not immediately clear if buying the Suns would take him out of the process with the Commanders. “Basketball is at the core of my life, from my high school days as a player to the honor of playing for Coach Izzo and winning a national title at Michigan State University. Ishbia has been mentioned before as a possible buyer of pro franchises, and he is a prominent Michigan State donor. We are so honored to be, with approval by the NBA, the next steward of the Phoenix Suns and Phoenix Mercury.” Mat Ishbia, 42, is chairman and CEO of mortgage lender United Wholesale Mortgage, based in Michigan. He is also an investor in United Wholesale Mortgage, founded by the brothers’ father, Jeff. He played in 48 games for Izzo during his time as a walk-on guard in East Lansing. I know he shares my unwavering support for women’s basketball and I look forward to watching him become a unifying force across the Valley of the Sun.” The $4 billion sale is the largest purchase in NBA history. Congrats to my guy and college teammate Ish! “As a former collegiate basketball player and national champion, Mat has exactly the right spirit, commitment and resources to pursue championships. Both teams have an incredibly dynamic fan base and I have loved experiencing the energy of the Valley over the last few months,” Mat Ishbia said in the release.

Mortgage executive Mat Ishbia has agreed in principle to buy a majority stake of the Phoenix Suns and Phoenix Mercury from the embattled owner Robert Sarver ...

“As a former collegiate basketball player and national champion, Mat has exactly the right spirit, commitment and resources to pursue championships.” “I appreciate Robert Sarver’s time and support throughout the process. Ishbia has been mentioned before as a possible buyer of pro franchises, and he is a prominent Michigan State donor. “I am extremely excited to be the next Governor of the Phoenix Suns and Mercury," Ishbia said in a statement Tuesday night. Train them, coach them to be the best version of themselves, like Izzo used to do with us. He played in 48 games for Izzo during his time as a walk-on guard in East Lansing. I’ve spent the last two decades building my mortgage business, United Wholesale Mortgage, into the number one mortgage lender in America and I’m confident that we can bring that same level of success to these great organizations on and off the floor." “Get the best people to join your team, just like in sports. All of the other 29 NBA teams better watch out because Mat's a winner!" Justin Ishbia, Mat's brother, also will be part of the ownership group, pending approval. If the sale closes at $4 billion, it would be the largest purchase in NBA history. The sale is expected to take several weeks to complete.

If the sale closes at $4 billion, it would be the largest purchase in NBA history.

Ishbia is chairman, president and chief executive of United Wholesale Mortgage, which bills itself as the nation's largest mortgage lender.

We are so honored to be, with approval by the NBA, the next stewards of the Phoenix Suns and Phoenix Mercury." "As a former collegiate basketball player and national champion, Mat has exactly the right spirit, commitment and resources to pursue championships." "I am extremely excited to be the next Governor of the Phoenix Suns and Mercury," Ishbia said in a statement Tuesday night. Ishbia has been mentioned before as a possible buyer of pro franchises, and he is a prominent Michigan State donor. "I appreciate Robert Sarver's time and support throughout the process. Train them, coach them to be the best version of themselves, like Izzo used to do with us. "Get the best people to join your team, just like in sports. I've spent the last two decades building my mortgage business, United Wholesale Mortgage, into the number one mortgage lender in America and I'm confident that we can bring that same level of success to these great organizations on and off the floor." All of the other 29 NBA teams better watch out because Mat's a winner!" "Google-searching people and trying to make assessments about who they are, I think that's dangerous," Williams said. If the sale closes at $4 billion, it would be the largest purchase in NBA history. The sale is expected to take several weeks to complete.

The billionaire brothers from Michigan have agreed to buy a controlling stake in the NBA team, buying out embattled owner Robert Sarver—and likely making ...

[has grown 15% over the last year](https://www.forbes.com/sites/mikeozanian/2022/10/27/nba-team-values-2022-for-the-first-time-in-two-decades-the-top-spot-goes-to-a-franchise-thats-not-the-knicks-or-lakers/), to $2.86 billion, thanks to record sponsorship and advertising revenue, as well as sky-high expectations for the league’s next media rights package. The deal turned Mat into a billionaire with a net worth of $12.6 billion, and gave Justin a $4 billion fortune. Given that the Ishbia brothers don’t appear to have billions of dollars in cash, it’s unclear how the deal will be financed. “I want to be the largest wholesale lender in the country,” he said. Mat turned to Goldman Sachs for a solution, and together they settled on a special-purpose acquisition company. A representative for Mat and Justin Ishbia declined to comment. The business had its best year, and Mat’s father asked him what he wanted to do next. An attorney by day, but an entrepreneur at heart, Jeff Ishbia launched a variety of endeavors—an alarm business, a title company and, in 1986, a mortgage company. [$2.7 billion](https://www.forbes.com/sites/mikeozanian/2022/10/27/nba-team-values-2022-for-the-first-time-in-two-decades-the-top-spot-goes-to-a-franchise-thats-not-the-knicks-or-lakers/) in October. His brother Justin owns 22% of UWM and is worth [$2.1 billion](https://www.forbes.com/profile/justin-ishbia/), according to Forbes estimates. [worth $4.7 billion](https://www.forbes.com/profile/mat-ishbia/). The WNBA’s Phoenix Mercury will also be included in the transaction.

Former NCAA basketball champion-turned-mortgage company CEO Mat Ishbia buys Phoenix's NBA and WNBA franchises for a record price tag, surpassing the $2.35 ...

The NBA had earlier handed him a one-year suspension from the league following an investigation into allegations of workplace misconduct. That deal valued the Nets at $2.35 billion. “Mat is the right leader to build on franchise legacies of winning and community support and shepherd the Suns and Mercury into the next era,” Sarver said in a statement.

The mortgage executive has agreed to buy a majority stake in the NBA and WNBA teams from Robert Sarver, who is serving a one-year ban from suspension after ...

We are so honored to be, with approval by the NBA, the next stewards of the Phoenix Suns and Phoenix Mercury." Ishbia in November confirmed to The Associated Press his interest in buying the NFL's Washington Commanders after owners Dan and Tanya Snyder hired a firm to explore potential transactions. "As a former collegiate basketball player and national champion, Mat has exactly the right spirit, commitment and resources to pursue championships." "I am extremely excited to be the next Governor of the Phoenix Suns and Mercury," Ishbia said in a statement Tuesday night. Train them, coach them to be the best version of themselves, like Izzo used to do with us. I've spent the last two decades building my mortgage business, United Wholesale Mortgage, into the number one mortgage lender in America and I'm confident that we can bring that same level of success to these great organizations on and off the floor."

United Wholesale Mortgage chief executive Mat Ishbia has agreed to buy the majority stake of the Phoenix Suns, and the WNBA's Mercury for a whopping $4 ...

“Mat is the right leader to build on franchise legacies of winning and community support and shepherd the Suns and Mercury into the next era,” said Sarver, who acquired control of the franchises in 2004. Both teams have an incredibly dynamic fan base, and I have loved experiencing the energy of the Valley over the last few months.” Ishbia, chairman and CEO of the No.

Billionaire mortgage lender Mat Ishbia and his brother Justin have agreed a deal that values the Phoenix Suns and Mercury at US$4bn.

ESPN reports that the news of Ishbia’s bid was a surprise to them. Sportico recently valued the Suns at US$3 billion, placing them in 13th on its rankings of NBA franchise valuations. [announced](//www.sportspromedia.com/news/robert-sarver-sell-phoenix-suns-mercury-nba-suspension-iger-bezos-laurenne-jobs/) he would sell both franchises after being suspended for a year by the NBA, as a result of its investigation into workplace misconduct. He has [expressed interest](https://www.washingtonpost.com/sports/2022/11/04/mat-ishbia-commanders-sale/) in buying the Washington Commanders, who are currently for sale. Basketball is at the core of my life. The transaction values both franchises at US$4 billion, with Mat Ishbia to become the team’s governor, while his brother serves as alternate.