Report: Mat Ishbia's Purchase of Suns Expected to be Complete Tuesday
The Phoenix Suns have been under the process of their sale from Robert Sarver to Mat Ishbia for a few months now with little to no info on when the process would be complete.
Ishbia hoped to take control of the franchise prior to the Feb. 9 trade deadline so the Suns could gain more traction around potential deals for Jae Crowder and others.
Arizona Sports' John Gambadoro says the sale is expected to be complete tomorrow.
More from Arizona Sports' report:
"Mat Ishbia’s transaction for the purchase of the Phoenix Suns is expected to finalize by the close of business Tuesday, according to Arizona Sports’ John Gambadoro.
"Ishbia and his brother, Justin, will own 57% of the team for the payment that values the Suns at $4 billion. Three minority owners from the current ownership group of the team, including Jahm Najafi, will not be selling any of their shares. Many of the remaining partners, however, are selling 25% of their stakes, which will triple their initial investments. Only one minority owner has sold the entirety of their stake."
Sarver was suspended for one season in the early part of the season, which eventually led to enough pressure from the outside for him to sell the team. The $4 billion sale will be the largest in NBA history.
