According to a report from ESPN’s Adrian Wojnarowski, billionaire Mat Ishbia is “finalizing a purchase of the Phoenix Suns” in the ballpark of $4 billion. This deal also includes the WNBA’s Phoenix Mercury, who current Suns owner Robert Sarver also owns.
ESPN Sources: Ishbia's purchase price is in the neighborhood of $4 billion. https://t.co/HzH2XSspHp— Adrian Wojnarowski (@wojespn) December 20, 2022
Earlier this year, it was determined following an investigation that Sarver engaged in both racist and misogynist conduct in the workplace. There were various calls from figureheads of the league, including LeBron James, for him to sell the team.
Ishbia played collegiate basketball for three years as a walk-on at Michigan State, where he was a member of the Spartans 2000 national championship team.
Wojnarowski said the sale is “expected to be completed in the near future” and “would end the tumultuous tenure of owner Robert Sarver.”
Through two months of the 2022-23 season, the Suns are 19-12 and third in the Western Conference. The Mercury went 15-21 last year and fell in the first round to the Las Vegas Aces.