Robert Sarver is finalizing a deal to sell the Phoenix Suns to billionaire mortgage lender Matt Isibea, according to NBA insider Adrian Wojnarowski.
BREAKING: Billionaire mortgage lender Matt Ishbia is finalizing a deal to buy 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
The deal is reportedly worth $4 billion per Woj. According to Shams Charania of The Athletic, Ishbia will bring his brother Justin on board as the Suns’ primary investor and alternate governor.
ESPN source: The purchase price for Ishibiya is around $4 billion. https://t.co/HzH2XSspHp
— Adrian Wojnarowski (@wojespn) December 20, 2022
Sarver and Ishbia also released their own official statements. Sarver called Ishbia “the right person to build on our franchise legacy of winning and supporting our community,” while Ishbia said he was “honored” to be “the next manager of the Phoenix Suns and Phoenix Mercury.”
Official: Mat and Justin Ishbia agree to buy majority stake in Phoenix Suns and Mercury from Robert Sarver: pic.twitter.com/dEe6QGfZJP
— Shams Charania (@ShamsCharania) December 21, 2022
Sarver had been trying to sell the Suns since he was suspended for a year and fined while the league investigated allegations of a hostile workplace within the Phoenix front office. The fine and suspension caused mixed feelings among players, the players’ union, and even the chairman of the Suns’ ownership group.
Ultimately, the decision to sell Saber may not be as notorious as the ouster of Donald Sterlings, but it does make clear that the NBA will not bow to allegations of racism and misconduct within the front offices of its franchises.
