UWM’s Mat Ishbia to buy Phoenix Suns, Mercury for $4 billion

Ishbia is a former walk-on Michigan State basketball player on the 2000 national championship-winning team. In 2021, he sponsored 133 student-athletes on MSU’s basketball and football teams and donated a separate $32 million to the university’s athletic program – the largest single cash commitment MSU had ever received from an individual.

“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,” Ishbia said. “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 bringing his incredible business acumen and shared passion for basketball.”

“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,” said Sarver, who acquired control of the franchises in 2004. “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.”

What do you think of Ishbia’s $4 billion investment? Share your thoughts in the comments below.