Mat Ishbia's purchase of Suns expected to become official in next two weeks
ESPN's Adrian Wojnarowsji and Baxter Holmes report that billionaire mortgage lender Mat Ishbia's purchase of a majority stake in the Phoenix Suns and Mercury at a $4B valuation is expected to become official in next two weeks. That would be in advance of the Feb. 9 NBA trade deadline.
ESPN Reporting with @Baxter: Billionaire mortgage lender Mat Ishbia's purchase of a majority stake in the Phoenix Suns and Mercury at a $4B valuation is expected to become official in next two weeks - w/ Ishbia assuming control prior to the Feb. 9 NBA trade deadline. Story soon.
— Adrian Wojnarowski (@wojespn) January 25, 2023
Their reporting goes on to say that Ishbia is "eager to start his involvement with basketball operations, and expected to be a hands-on owner in matters of team building". One of his first orders of business regarding the roster will like be dealing with Jae Crowder who has been sitting out the final year of his season. The veteran is set to make $10.2M.