Phoenix Suns get new owner in massive $4 billion deal
The Phoenix Suns and the WNBA's Phoenix Mercury will soon be under new management. Mat and Justin Ishbia are moving in with a prospective $4 billion deal to take over the Phoenix outfit. Former owner Robert Sarver is selling the team as an investigation into previous discriminatory comments is underway.
Mat Ishbia is the CEO of United Wholesale Mortgage. In his college days, Ishbia played basketball for Michigan State University. He has a net worth of approximately $4.7 billion with much of that fortune being tied to his sizeable 71% stake in UWM.
Justin Ishbia is both a founding and managing partner at Shore Capital. He is also a minority stakeholder at United Wholesale Mortgage. He will reportedly be investing a good deal into the Suns and will serve as the team's alternate governor. The amount of money being put into the Suns purchase right now is likely a good omen for the team's budget and financial prospects moving forward.
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How are the Phoenix Suns doing this season?
The Phoenix Suns (19-13) are currently fourth in the Western Conference. The team enjoyed an impressive six-game winning streak last month before losing steam and going 1-6 in their next seven games. They bounced back from this setback with impressive wins over the Los Angeles Clippers, the New Orleans Pelicans, and the Los Angeles Lakers.
Most recently, the Phoenix Suns fell to the Washington Wizards in a painfully close 113-110 game.
Shooting guard/small forward Devin Booker has been the team's MVP for much of this season thus far. Scoring a huge amount of points game to game (including a whopping 58 points against the Pelicans) and leading in rebounds and assists, he's even impressed the likes of all-time great point guard Chris Paul and Lakers star LeBron James.
With new management on the way and a commendable line-up of players, the future's looking bright for the Phoenix Suns as the season wears on. They've looked especially strong at home this season as well. The main issue plaguing the team right now is injuries. Booker himself missed the Wizards loss due to groin issues and fellow point guard Cameron Payne has a foot injury at the moment.
With another day off before their next game, the Suns should hopefully be able to rest and recuperate before taking on the surging Memphis Grizzlies this week.
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