The NBA franchise and the WNBA’s Phoenix Mercury will go to billionaire Mat Ishbia for $4 billion.
The Phoenix Suns and Phoenix Mercury is one step away from passing into the hands of Robert Sarver a mat ishbia for 4 billion dollars. The franchise will exceed the acquisition of brooklyn nets for 3.3 billion dollars in 2019 and will be the most expensive sale in nba.
Robert Sarver decided to put both teams up for sale on September 21, when the sentences of one year of suppression of his position along with a fine of 10 million dollars as as a result of an investigation for abuse and mistreatment of its employees.
Sarver bought the Suns in 2004 for $401 million. and now they are willing to pay you 10 times your initial investment.
Through a joint statement, Sarver and Ishbia said they agreed to the transaction and the approval of the League is missing. Mat Ishbia is a multi millionairespecializing in real estate loans, through United Wholesale Mortgage, in Michigan, of which he is president, and also has experience in college basketball, as a Michigan State champion.
Mat Ishbia, new owner of Suns and Mercury
Ishbia must await the league’s resolution and the vote of the other owners to definitively confirm the purchase. What has been achieved so far is the agreement of all points of the transaction and it will be raised for final review.
Source: Tycsports
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