We are aware of the announcement by Robert Sarver today that he has entered into a purchase agreement with a group led by Mat Ishbia, Chairman and CEO of United Wholesale Mortgage, to acquire a majority stake in the Phoenix Suns and Phoenix Mercury franchises. The deal is now pending league approval. We will provide more information at the appropriate time. We look forward to welcoming a new owner to the Valley.”
Earlier today, Robert Sarver and Mat Ishbia issued the following statements:
Sarver: "Mat is the right leader to build on franchise legacies of winning and community support and shepherd the Suns and Mercury into the next era. As a former collegiate basketball player and national champion, Mat has exactly the right spirit, commitment and resources to pursue championships. Equally important, though, is his philanthropic outlook and commitment to using sports as a way to elevate and connect people. I know he shares my unwavering support for women’s basketball and I look forward to watching him become a unifying force across the Valley of the Sun.”
Ishbia: "I am extremely excited to be the next Governor of the Phoenix Suns and Mercury. Both teams have an incredibly dynamic fan base and I have loved experiencing the energy of the Valley over the last few months. Basketball is at the core of my life, from my high school days as a player to the honor of playing for Coach Izzo and winning a national title at Michigan State University. I’ve spent the last two decades building my mortgage business, United Wholesale Mortgage, into the number one mortgage lender in America and I’m confident that we can bring that same level of success to these great organizations on and off the floor. This is a dream come true for my entire family including my parents, my three children, and my brother Justin, who will be making a significant investment with me and bring his incredible business acumen and shared passion for basketball. I appreciate Robert Sarver’s time and support throughout the process. We are so honored to be, with approval by the NBA, the next stewards of the Phoenix Suns and Phoenix Mercury.”