The purchase of the Phoenix Suns was finalized by Mat Ishbia. The time is 1:45.
Another American sports franchise has been sold.
According to sources, Mat Ishbia is close to buying the Phoenix Suns and the Phoenix Mercury for a record $4 billion.
Ishbia was a member of the Spartans' 2000 national championship team and is the president and CEO of United Wholesale Mortgage.
The sale of the Suns could be approved as early as Tuesday, ending Robert Sarver's tenure as the team's owner. After the NBA announced the findings of a 10-month investigation into his conduct, the sale of the team was announced. There were allegations of racism and sexism during the 17 years that Sarver owned the company.
The franchise sale of the Suns and Mercury is a new record. The Denver Broncos were sold for a record amount of money.
The prices of franchise sales have gone up recently. Some of the most expensive franchise purchases in the US are listed here.
The sale price was $4.75 billion.
The previous record sale price for an NFL team was set by the group buying the Broncos. Jerry Richardson sold the team to David Tepper. The next closest US sports team sale is over $1 billion.
According to Forbes, he has a net worth of over fifty billion dollars. The wife of the owner of the LA Rams is a cousin of his. The NBA's Denver Nuggets, NHL's Colorado Avs and MLS's Colorado Rapids are all owned by the same man.
The sale price was $4 billion.
A new high-water mark for NBA franchises was set by the combined sale of the teams.
Ishbia has been trying to buy a team before he buys the Suns. According to Forbes, Ishbia has a net worth of 888-492-0 888-492-0. He is expected to receive an investment from his brother.
The sale price was $2,4 billion.
Until the Broncos came along, the Mets had the most expensive team sale in sports. Steve Cohen bought the Mets in 2020. The Dodgers sold for $2 billion in 2012 to become the most expensive baseball team sale.
Cohen is the founder of Point 72.
The sale price was $2.35billion.
The Nets were purchased from Russian billionaire Mikhail Prokhorov for over two billion dollars. The timelines for full ownership were accelerated by Tsai. In a separate transaction, Tsai purchased the home of the Nets for $1 billion.
There are other New York-based sports teams owned by Tsai. He purchased the New York Liberty in January.
The sale price was over $2 billion.
The Carolinas became available for sale after Richardson was accused of sexual harassment. The team was bought by Tepper for $2.275 billion. Tepper had an ownership stake in the Pittsburgh Steelers.
Charlotte FC, the MLS's 30th team, was brought on by the Appaloosa founder.
The sale price was over $2 billion.
Tilman Fertitta, a native of Texas, bought the team for $2.2 billion. Fertitta was an attendant at Houston's games before he bought the franchise.
He is the sole owner of Fertitta Entertainment, which includes the Golden Nugget Casinos and Hotels. "Million Dollar Buyer" is Fertitta's show on CNBC.
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