The staggering record offer of $4 billion US for the Phoenix Suns is an indication of where things are trending for sports team ownership, experts say.
Reports indicated this week that disgraced Robert Sarver has agreed to sell his majority ownership stake in both the Suns of the NBA and WNBA franchise Phoenix Mercury to billionaire mortgage creditor Mat Ishbia.
Ishbia and his brother Justin Ishbia are buying all of Sarver’s stake, plus some of what the limited partners own, and will control more than 50 per cent of the team once the sale is approved, according to The Associated Press.