Mat Ishbia to purchase the Phoenix Suns

[MMC]

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[StreetHawk]

Sarver reportedly owns only 35% of the suns. If their value is roughly $2 billion that’s a $700 mill price tag to pay.

 

[LadyStanley]

Report: Mat Ishbia finalizing deal to purchase Phoenix Suns and Mercury from Robert Sarver

Mat Ishbia, the former Michigan State University guard turned billionaire executive, is finalizing a purchase of the Phoenix Suns and Mercury from embattled owner Robert Sarver, according to ESPN's Adrian Wojnarowski.

sports.yahoo.com

Sale being finalized

 

[mouser]

Sarver reportedly owns only 35% of the suns. If their value is roughly $2 billion that’s a $700 mill price tag to pay.

Valuation is supposedly closer to $4B. Also while Sarver reportedly only owns about a third of the team, there were reports he had authority as managing partner to sell the entire team including minority partner stakes. So we'll need some more info on exactly how much of a stake Ishbia ends up with.

 

[StreetHawk]

Valuation is supposedly closer to $4B. Also while Sarver reportedly only owns about a third of the team, there were reports he had authority as managing partner to sell the entire team including minority partner stakes. So we'll need some more info on exactly how much of a stake Ishbia ends up with.

Suns should be worth more than the timberWolves but they sold for well under $2 billion at $1.5 billion. That’s a massive price difference if the valuation is at $4 billion.

 

[LadyStanley]

Mat Ishbia expected to become owner of Suns and Mercury before NBA trade deadline

Ishbia is reportedly buying both teams for an NBA-record $4 billion.

sports.yahoo.com

Expected to close before NBA trade deadline (2/8).

 

[HisIceness]

Michael Jordan officially became majority owner of the Bobcats in 2010, for about $175 million.

Now teams are selling for over a billion.

In a previous life I would have founded the Orlando Magic and or something and would have passed them down to family. Holy cow what a return on investment.

 

[StreetHawk]

Michael Jordan officially became majority owner of the Bobcats in 2010, for about $175 million.

Now teams are selling for over a billion.

In a previous life I would have founded the Orlando Magic and or something and would have passed them down to family. Holy cow what a return on investment.

In 2017 tilman Fertitia completes sale of the rockets for $2.2 billion. Only 5.5 years later the value of a similar market sized team in phx nearly doubled what he paid for it is crazy.

 

[LadyStanley]

Report: Suns CEO Jason Rowley resigns in wake of misconduct scandal that led to owner Robert Sarver's ouster

Rowley was accused of workplace misconduct in an ESPN report.

sports.yahoo.com

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