Billionaire mortgage lender Mat Ishbia is finalizing a purchase of the Suns, according to ESPN’s Adrian Wojnarowski.
The deal, which Wojnarowski reports is expected to be completed soon, will officially bring an end to the tenure of Robert Sarver. Ishbia’s purchase price is believed to be in the neighborhood of $4 billion, per Wojnarowski, which would set an NBA record for the highest sale of a franchise.
Sarver announced he would sell both the Suns and the Mercury in September after he was handed down a $10 million fine and suspension of one year following a league investigation into workplace misconduct.