JUST IN: Billionaire mortgage lender Mat Ishbia is reportedly finalizing a deal to purchase the Phoenix Suns and Mercury organizations.
from the embattled owner Robert Sarver for $4 billion, a person with knowledge of the negotiations told The Associated Press on Tuesday.
Ishbia, a former Michigan State player and a member of the Spartans’ NCAA championship team in 2000, will now be subject to a vetting process by the. Once that process is completed, the NBA’s board of governors will have to approve the sale. The board isn’t scheduled to meet again until March, though it could convene virtually if the vetting process is successfully completed beforehand.
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Report: Mat Ishbia finalizing deal to purchase Phoenix Suns from Robert SarverMat Ishbia, the former Michigan State University guard turned billionaire executive, is finalizing a purchase of the Phoenix Suns from embattled owner Robert Sarver, according to ESPN's Adrian Wojnarowski.
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Michigan mortgage lender Mat Ishbia to purchase Phoenix Suns for record $4 billionBillionaire mortgage lender Mat Ishbia is finalizing a purchase of the Phoenix Suns and Mercury, The Republic confirmed the ESPN report through a source.
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Phoenix Suns sell to Mat Ishbia for record-setting $4 billion: reportThe sale would be the highest amount an NBA team has ever sold for, surpassing the $2.35 billion sale of the Brooklyn Nets in 2019.
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Michigan mortgage lender Mat Ishbia to purchase Phoenix Suns for record $4 billionBillionaire mortgage lender Mat Ishbia is finalizing a purchase of the Phoenix Suns and Mercury, The Republic confirmed the ESPN report through a source.
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