Mat Ishbia, the billionaire owner of Pontiac-based United Wholesale Mortgage and former Michigan State basketball walk-on who was part of the 2000 national championship team, is finalizing a purchase of the NBA's Phoenix Suns, according to a report from ESPN inside Adrian Wojnarowski.
"BREAKING: Billionaire mortgage lender Mat Ishbia is finalizing a purchase of the Phoenix Suns, sources tell ESPN," Wojnarowski tweeted. "The deal, expected to be completed in the near future, would end the tumultuous tenure of owner Robert Sarver."
According to ESPN, the purchase price is in the neighborhood of $4 billion and includes the WNBA's Phoenix Mercury.