Ball – the biggest deal in history: Suns and Mercury sold, find out how much and to whom (NBA)

“The biggest deal in the history of basketball,” this is how the entire American press reacted, on Wednesday, to the announcement of the sale of majority of the shares of the Phoenix Suns (NBA) and Phoenix Mercury (WNBA) by billionaire Robert. Sarfer to the millionaire also in North America Matthew (Matt) Randall Eshpia, submitted on Tuesday night (already dawned this day in mainland Portugal) and confirmed by both parties.

There’s $4 billion, roughly €3.773 million, that Matt Echpia, 42, will shell out, and Robert Sarver – who was suspended by the NBA for alleged “racist and gender-based conduct” – is fit to remain majority shareholder and franchise to Arizona’s two iconic teams, runner-up three-time NBA champion (1976, 1993, and 2021), three-time WNBA Women’s Champion (2007, 2009, and 2014), as well as runner-up in 2021.

Entrepreneur in mortgages, real estate and mortgage credit, Matt Ishpia will invest more than four-fifths of his personal fortune, which Forbes magazine estimated in November at about $5,100 million, equivalent to €4,900 million!

Born in Justin, Birmingham, just outside of Detroit, Matt Ishpia comes from a Jewish family and his love of basketball is well known: he was a kicker and good quarterback for the University of Michigan Spartans, a champ. USA in 2000, coached by Tim Izzo.

The future owner of the Suns and Mercury company graduated in management in 2003 from Michigan State University, and in the same year he joined the company founded in 1986 by his father, Jeff Ishpia, United Wholesale Mortgage (UWM), of which he was CEO. Officer (Chief Executive Officer) in 2013, a position he currently occupies, accumulated with the position of Chairman of the Board and owner of 71 percent of the shares: his brother Justin owns 22 percent, and they became billionaires by entering the company on the stock exchange, in January 2021.

Both teams have tremendous dynamics and a huge fanbase. I love the experience and energy of Phoenix,” the future owner told FirstPost.com. Negotiations will drag on for weeks… and the new owner will have to be approved by the Teams board of directors, whose next meeting will be… in March 2023.

The value exceeds the $3,300 million (3,100 million euros) spent by Joe Tsai in 2019 to purchase the Brooklyn Nets and Barclays Center, and constitutes a new record in the history of American professional basketball.

In 2017, Tillman Fertitta bought the Houston Rockets for $2,200 million (€2 billion). The only other NBA franchise to sell for more than $2 billion was in 2014, when Steve Ballmer paid that exact amount for the Los Angeles Clippers.

«Basketball is my life, from the first days of my school until I had the honor of coaching “Al-Sayed” [Tim] Izzo declared in college and winning a national title at MSU,” Matt Ichpeia, who is not looking back on tying four-fifths of his personal fortune to buyouts of both teams.

Eshpia failed to buy the Denver Broncos football team in August, and in November he returned to the burden: he announced his intention to proceed with the purchase of the Washington Chiefs, also of the National Football League (NFL).

Robert Sarver, who still owns both professional basketball teams in Phoenix, was fined $10 million (€9.8 million) and suspended by the NBA for a year in September after an investigation into alleged racist and misogynistic behavior. and conduct that clearly violates business standards”, which led him to announce that he would sell the two teams’ franchises “at the best price” immediately.

One of the sport’s greatest legends, also a former University Spartans and MSU player, has welcomed Matt Ichpea to the Suns and Mercury: Irvin (Magic) Johnson.

“I had a long phone conversation with ‘brothers’ of Matt Ishpia from the Spartans, congratulating him on his purchase of the Phoenix Suns. He’s going to do great things and revolutionize not just the Sun, but the entire league. [NBA], Believe me. The other 29 teams in the NBA better watch out because Matt is the winner.”

“I am excited to become the next ruler of the Phoenix Suns and Phoenix Mercury. I have spent the last two decades of my life building my own mortgage company and consolidating US Mortgage to be number one in America. [é-o desde 2015] And I am confident that we will be able to achieve the level of business success that the teams in Phoenix and Arizona have achieved, ”wrote Matt Ochpia, in a note issued at dawn this day by his personal advisor, and transmitted by FirstPost.com, ESPN and BBC.

In 2017, Tillman Fertitta bought the Houston Rockets for $2,200 million (€2 billion). The only other NBA franchise to sell for more than $2 billion was in 2014, when Steve Ballmer paid that exact amount for the Los Angeles Clippers.

Watch Magic Johnson’s tweet below, congratulating Matt Ishpia on his bet on the pro teams in Arizona City, whose varsity team he represented the state:

I had a great call with fellow Spartans Matt Ishpia congratulating him on his purchase of the Phoenix Suns. He will do great things not only for the Suns organization, but for the entire league. All 29 other NBA teams better watch out because Matt is the winner!

– Irvin Magic Johnson (@MagicJohnson) December 20, 2022