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The NBA plans to approve billionaire mortgage lender Matt Ishbia as the new owner of the Phoenix Suns franchise before the Feb. 9 trade deadline, a person familiar with the situation told The Republic. Told.
ESPN first reported the news on Wednesday.
The news is important because the Suns have not made a trade so far this season. Interim team governor Sam Garvin, a minority shareholder, cannot make any major moves without the approval of majority shareholder Robert Thurber.
Server has been suspended from any involvement with the team, but still has a say in major financial decisions.
The Suns were trying to move Jay Crowder, who hasn’t played a game this season, because he and the team “mutually agreed” not to attend training camp.
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The Miami Heat, Atlanta Hawks and Milwaukee Bucks have expressed interest in the veteran forward.
Ishbia, 42, attended Phoenix’s back-to-back games against Indiana and Memphis last weekend. The Suns (25-24) won both games.
Ishbia agreed in principle to purchase the Suns and WNBA’s Phoenix Mercury from Thurber on December 20 for $4 billion. Due to background checks and financial checks, it usually takes two months for the league to approve his ownership of the team.
Thurber chose to sell the team in September amid criticism of the NBA’s dismissal. The league suspended Server for one year and fined him $10 million for “workplace misconduct and organizational deficiencies” found in a 10-month investigation.
Ishbia and Sarver were not in touch until the two were introduced regarding the sale of the team.
A native of Michigan, Ishubia played for the 2000 Michigan National Championship team.
According to the site, Forbes lists Ishbia’s net worth at $5.1 billion, which ranks her 505th in the world. He is the chairman and CEO of United Wholesale Mortgage, a mortgage-lending company, and owns 71% of the company’s shares, according to Forbes. The Michigan-based company is now called UWM Holdings.
This article originally appeared in Arizona Republic: NBA may approve Matt Ishbia as Suns owner before trade deadline
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