For weeks now, we have been wondering what the future of the Phoenix Suns will look like.
Not only have we been pondering how well they’ll do for the rest of the season and what sort of postseason success is possible, but we have also been trying to figure out who will own the team and dictate its path forward in the years ahead.
The team’s current owner, Robert Sarver, has been trying to sell the team ever since a damning report about his actions was released by the NBA.
There have been rumors about possible suitors to buy, including Jeff Bezos and former president Barack Obama.
BREAKING: Billionaire mortgage lender Mat Ishbia is finalizing a purchase of the Phoenix Suns, sources tell ESPN. The deal, expected to be completed in the near future, would end the tumultuous tenure of owner Robert Sarver.
— Adrian Wojnarowski (@wojespn) December 20, 2022
But, now it’s official: billionaire mortgage lender Mat Ishbia is going to buy the Suns, according to Adrian Wojnarowski of ESPN.
The deal should be finished in the near future and would mark the definitive end of Sarver’s tenure running the team.
In many ways, this doesn’t change anything about the Suns – but it could add a lot of money to Ishbia’s wallet.
Buying The $uns
Buying an NBA team is good business if you have the money for it.
As you can see, it requires an awful lot of cash to secure ownership of a franchise like this but the upsides are massive.
There is a lot of money to be made with a team, especially one like the Suns.
It is true that they haven’t won the Finals yet but they are one of the most talked-about squads in the NBA right now.
Suns games are sold out almost every night and the future looks bright for the team.
That means that Ishbia’s bank account may balloon even more after he completes this purchase.