Mat Ishbia, the chief executive of United Wholesale Mortgage, is nearing an agreement to acquire a majority stake in the N.B.A.’s Phoenix Suns and the W.N.B.A.’s Phoenix Mercury in a deal that values the teams at $4 billion, according to a person who was familiar with the negotiations but not authorized to discuss them publicly.
Robert Sarver, the majority owner of the team, announced that he would sell the team in September, after an N.B.A. investigation found that he had mistreated employees over many years, including by using racist language.
The pending deal, which was first reported by ESPN, will not be finalized until it is approved by the N.