Report: Mat Ishbia Finalizing Suns Purchase

00:29

Mat Ishiba reportedly buying $4bn stake in Phoenix Suns and Mercury

Mortgage executive Mat Ishbia is reportedly finalising his purchase of basketball teams Phoenix Suns and Mercury.

He is reported to be buying a $4bn majority stake in the teams from owner Robert Sarver.

The billionaire will be subjected to a vetting process by the NBA during the buying process which could take weeks.

Approval of the move will also be required by the league’s board of governors.

Mr Ishbia is a former basketball player himself, for Michigan State.

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