BREAKING: $5.1 Billion Worth Former Basketball Player Finalizing a Shocking $4 Billion Phoenix Suns Move
A new owner is apparently set to take over the Phoenix Suns and Mercury. The Phoenix Suns were embroiled in a significant incident involving their owner during the offseason. Robert Sarver was banned from the NBA for a year when it became clear that he had made a number of racist and sexist comments. According to ESPN’s Adrian Wojnarowski, millionaire businessman Mat Ishbia, a former guard for Michigan State University, is close to buying the Phoenix Suns and Mercury from contentious owner Robert Sarver.
The individual who spoke to the AP on the condition of anonymity because neither Ishbia nor the Suns had made the arrangement publicly known said that it is the first stage in a procedure that will take a number of weeks to complete.
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Phoenix Suns set to have a new owner
Mat Ishbia, a mortgage industry entrepreneur, and Phoenix Mercury and Suns owner Robert Sarver have reached a $4 billion agreement in principle. According to reports, the contract is worth “in the neighborhood of $4 billion,” which is a record sum for the NBA.
The WNBA Mercury are also part of the purchase, sources tell ESPN.
— Adrian Wojnarowski (@wojespn) December 20, 2022
Ishbia participated in three seasons as a walk-on at Michigan State, playing one minute in each of the teams’ victories over Florida in the 2000 NCAA championship game and Arizona in 2001 Final Four. Ishbia will take over many professional sports teams as part of this massive purchase. The Mercury, a WNBA team from Phoenix, is also owned by Robert Sarver. The agreement that will make Ishbia the owner of the Phoenix Suns includes that team as well.
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