Phoenix Suns owner Robert Sarver is in the final stages of selling the franchise for $4 billion, according to ESPN’s Adrian Wojnarowski.
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.
With the move, Ishbia will also become the owner of the city’s WNBA franchise.
The WNBA Mercury are also part of the purchase, sources tell ESPN.
Ishbia has been around basketball, walking on at one of the biggest college basketball programs in the country.
Ishbia — a walk-on basketball player for Tom Izzo at Michigan State — has been pursuing several NBA and NFL teams in recent years, and now lands on a deal to purchase the Suns.
Ishbia played for Michigan State from 1999-2002, winning the 2000 championship, walking on the team led by Mateen Cleaves and Morris Peterson.
Ishbia is buying the team from Robert Sarver, who has been involved in several scandals over his tenure as owner.
The investigation into Sarver included 320 interviews and more than 80,000 documents that found the Suns owner to use racial derogatory slurs, inappropriate comments towards female employees, physical conduct towards male employees and harsh treatment.
Now, it appears to be a new era in Phoenix.