Mat Ishbia approved as new Suns governor
It was announced Monday evening that the NBA’s board of governors approved Mat Ishbia’s $4 million purchase of the Phoenix Suns and Phoenix Mercury. The vote passed 29-0, with the Cavaliers the only team to abstain.
Cleveland’s owner, Dan Gilbert, is the majority owner of Rocket Mortgage. Gilbert and Ishbia, the CEO of United Wholesale Mortgage, are primary competitors.
The sale of the Suns and Mercury came on the back of widespread sexual assault allegations within those organizations against previous owner Robert Sarver. The NBA suspended Sarver for a year and fined him $10 million. He decided to sell his majority stake soon after.
Ishbia will reportedly bring in his brother Justin to jointly own a majority share of the Suns and Mercury. They also plan to buy out many of the current minority owners.
The sale of the Suns franchise comes at an interesting time, since the team has been deeply involved in trade rumors leading up to Thursday’s deadline.
It seems the Ishbia brothers are looking to hit the ground running by continuing to be aggressive on the trade market. According to NBA insider Shams Charania, the Suns have already added more assets to their trade block.
Phoenix has reportedly asked the Raptors and Nets about Fred VanVleet‘s and Kevin Durant‘s availability. They are also actively looking to add role players to surround Devin Booker and Deandre Ayton. Look for them to make a splash before the trade deadline comes to a close on Thursday afternoon.
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