NBA Suns sold for $4B

[Say Hey Kid]

Ishbia agrees to Suns purchase for record $4B

Mat Ishbia has agreed to purchase the majority stake of the Phoenix Suns and WNBA's Mercury for $4 billion, a deal that would end the tumultuous tenure of owner Robert Sarver.

www.espn.com

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

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[John Price]

 

[Vamos Rafa]

NGL, I was thinking that with that name, he was a foreigner like a Middle Eastern or Central Europe.

Damn, he’s a former college hooper? He’s come a long way.

 

[Voight]

I thought I read he just bought Sarvers 50% + some minority shares for $2.2 billion? Of course it would *value* the Suns at $4bn or so but his total networth is just over $4bn and its mostly tied up in his company.

 

[HisIceness]

NBA franchise with zero championships and had a decade long playoff drought is sold for $4 billion.

I think it was Les Alexander who bought the Rockets for $80 million in 1992 and sold them for $2 billion in 2017. These guys who bought sports franchises prior to 2010-ish really made wise investments when and if they decide to sell (or are "voted off the island" a la Sarver here)