Phoenix Suns Gets New Billionaire Owner: Ishbia Will Buy From Embattled Sarver In $4 Billion Deal

Three months after the owner of the NBA's Phoenix Suns announced plans to sell the team, Mat Ishbia is buying it.

According to Mike Ozanian of Forbes, the deal is worth $4 billion.

The chairman and CEO of United Wholesale Mortgage is Ishbia.

The NBA suspended the owner of the Suns for one year after he was fined $10 million for buying the team for $400 million.

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Ishbia used to play basketball for Michigan State University. He won a national championship in 2000 while playing in 48 games.

Forbes Valuation

Our calculations show that Ishbia is worth $5.1 billion. The Phoenix Suns are worth more than $2 billion according to Forbes.

The Ishbia brothers are buying the Phoenix Suns.