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Here's why Mat Ishbia says he's pulling plug on NIL deals with MSU athletes

Mat Ishbia and United Wholesale Mortgage are cutting off the Name, Image and Likeness payments to Michigan State student-athletes at the end of the month, citing Ishbia's new role as owner of the NBA's Phoenix Suns and WNBA's Phoenix Mercury.

UWM, the Pontiac-based mortgage behemoth, sent an email to the affected Michigan State student-athletes, including football players, men's and women's basketball players, and volleyball players.

Over the last year, athletes who took part in the program — which included promoting UWM on their social-media channels — received up to $700 per month. That worked out to more than $100,000 per month from UWM to athletes.