• Loading stock data...
Saturday, August 23, 2025
The biggest names in sports media. All in one room. Buy tickets now!

Phoenix Suns, Mercury Reportedly Selling to Mat Ishbia for $4 Billion

  • Mat Ishbia will pay around $4 billion for the Phoenix Suns and Mercury.
  • The purchase will end the scandal-plagued tenure of Robert Sarver.
New Phoenix Suns owner Mat Ishbia smiles while leaning on table
Junfu Han-Imagn

The Phoenix Suns appear to have a buyer.

Billionaire Mat Ishbia is reportedly finalizing a deal to buy the NBA team. At 42, he’ll be the league’s second-youngest owner.

  • The United Wholesale Mortgage CEO will pay around $4 billion, easily beating the record for an NBA team set by Joseph Tsai’s 2019 purchase of the Brooklyn Nets for $2.3 billion.
  • The WNBA’s Phoenix Mercury are also included in the deal. 
  • Ishbia’s brother Justin, a founding partner of Shore Capital, will be joining as an investor and alternate governor of the team.

The deal has been agreed to in principle and is expected to be completed soon.

The team is being sold by Robert Sarver after an investigation detailed repeated acts of misogyny and racism by the owner. An additional report found that Suns CEO Jason Rowley was also complicit in the team’s toxic culture but has faced few consequences to date.

Ishbia, a college walk-on, won an NCAA championship as a basketball player at Michigan State.

More Sales Coming

There are at least eight additional major teams for sale. 

MLB’s Washington Nationals and Los Angeles Angels, the Premier League’s Liverpool FC and Manchester United, and the NHL’s Ottawa Senators are all on the market. 

Like the Phoenix teams, the NFL’s Washington Commanders and NWSL’s Portland Thorns and Chicago Red Stars are at least exploring sales due to similar scandals related to their owners. 

Dan and Tanya Snyder could sell all, some, or possibly none of the Commanders, with first-round bidding reportedly closing this week.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Dec 21, 2024; Austin, Texas, USA; Texas Longhorns quarterback Arch Manning (16) warms up as the Texas Longhorns prepare to play the Clemson Tigers in the first round of the College Football Playoffs at Darrell K Royal Texas Memorial Stadium.

Schools Are Hesitant to Allow PE Into Their Athletic Departments

Regardless of budget, schools don’t believe the risk is worth the reward.
Malik Beasley

Malik Beasley Could Still Be Charged in Gambling Probe Despite Feds Dropping..

Beasley’s lawyer is hoping his client can return to the NBA.
Oct 2, 2024; Rosemont, IL, USA; Big Ten commissioner Tony Petitti speaks with the media during the 2024 Big Ten Women’s Basketball media day at Donald E. Stephens Convention Center.

‘Not Ready to Jump In’: Power 4 Commissioners Aren’t Sold on PE

Top leaders in college sports have yet to see a satisfactory proposal.
Nov 23, 2024; Minneapolis, Minnesota, USA; Penn State Nittany Lions head coach James Franklin looks at quarterback Drew Allar (15) during the first quarter against the Minnesota Golden Gophers at Huntington Bank Stadium.

Private Equity Enters College Sports—Without the Equity

As college football starts, lending agreements have become PE’s best way in.

Featured Today

Sep 8, 2024; East Rutherford, New Jersey, USA; New York Giants running back Eric Gray (20) returns a kickoff against the Minnesota Vikings during the first half at MetLife Stadium.

‘Fauxbacks’ Throw Back to a Retro Uniform That Never Existed

Many throwback jerseys are brand-new designs or “Franken-Unis.”
August 17, 2025

‘Labubu Gang’: The Creepy-Cute Dolls Sweeping Pro Sports

The creepy-cute doll is the hottest collectible—and fashion statement.
Middle Tennessee wide receiver Cam'ron Lacy (86) catches a pass and carries the ball during the season final home football game against New Mexico State on Saturday, Nov. 23, 2024.
August 15, 2025

How Middle Tennessee State Added $668,000 to Its NIL Budget

The Blue Raiders are creating a new blueprint for cutting costs.
Bridgewater American 12U Little League player Micah Poulter holds a District 7 pin during a send-off rally to the New England regional tournament in Bristol, Connecticut, from Legion Field on Friday, August 2, 2024.
August 14, 2025

Inside the Little League World Series Pin Trade

The rare little collectibles fuel a frenzy in Williamsport each summer.

American Celebs Want to Be Sports Owners. Soccer Is Where They Start

As U.S. team prices climb, investors set their sights abroad.
June 24, 2025

Timberwolves’ 4-Year Ownership Saga Ends As A-Rod, Lore Take Over

The unanimous approval brought a clean end to a long-disputed transaction.
Apr 26, 2025; San Francisco, California, USA; Houston Rockets guard Fred VanVleet (5) before game three of first round for the 2024 NBA Playoffs against the Golden State Warriors at Chase Center.
June 25, 2025

Rockets Get $20 Million in Wiggle Room From New VanVleet Deal

VanVleet first signed with the Rockets in 2023.
Sponsored

Building A Pro League From Scratch

Front Office Sports and Gainbridge® spotlight what it takes to build a professional women’s soccer league.
April 20, 2025

Max Verstappen Linked to $300M Aston Martin Deal Ahead of Miami GP

Aston Martin is currently seventh in the constructors championship.
March 27, 2025

Peyton Manning’s Omaha Productions Gets PE Boost

The Hall of Famer’s company gains another prominent backer.
March 20, 2025

High School Sports Power Signs Eight-Figure Rights Deal in First

The deal pays roughly $1 million annually, FOS has learned.
March 20, 2025

Maxx Crosby’s Agent: Edge Rushers Set to Dominate NFL’s Non-QB Market

Maxx Crosby just signed a three-year, $106.5 million extension.