Michigan-born businessman Mathew Ishbia
The Phoenix Suns have a new owner. Mat Ishbia, former college basketball player, is paying a large sum for this. For this he not only receives the men’s team.
Dhe sale of the NBA team Phoenix Suns and the WNBA team Phoenix Mercury for four billion US dollars (around 3.8 billion euros) is imminent. Accordingly, the deal with the new owner Mat Ishbia now has to be approved by the league, as the team announced on Tuesday evening (local time). “We look forward to welcoming a new owner to the Valley,” it said. More information would be announced in due course.
Businessman and former college basketball player Ishbia and current owner Robert Sarver agreed on the purchase price that will make the Suns the most expensive team in the North American professional basketball league NBA.
Sarver was banned by the NBA for a year and fined $10 million for the way he ran the organization. The 61-year-old then announced that he wanted to sell the club. Sarver is said to have made racist and sexist comments and treated basketball team staff unprofessionally for years.
To date, the Brooklyn Nets have been the most expensive NBA team in the league. In 2019, Joe Tsai paid $3.3 billion for the Nets and the Barclays Center in New York. Sarver bought the Suns and Mercury, who play in the women’s professional league WNBA, in 2004 for $401 million. It can take several weeks for the sale to be completed.