Mat Ishbia to acquire a majority stake in Phoenix Suns and Mercury in a $4bn deal.

Mat Ishbia, the Chairman and CEO of United Wholesale Mortgage, agreed to acquire a majority stake in Phoenix Suns and Mercury, a NBA's premier franchise, in a $4bn deal. "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 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," Mat Ishbia.