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Suns owner Mat Ishbia says mortgage company woes will have no effect on basketball
Ishbia said a $450 million UWM quarterly loss will not affect spending on players or the fan experience as he buys about 14% more of the team.
- On Monday, Phoenix Suns owner Mat Ishbia said recent losses at United Wholesale Mortgage will have "zero" effect on his basketball spending habits.
- Following a reported $450 million net loss at UWM in the second quarter this year, questions emerged about whether the billionaire's mortgage company troubles would affect his basketball operations.
- The 46-year-old is purchasing 14% more of the Suns, bringing his total ownership to roughly 80%, having bought the franchise and WNBA Phoenix Mercury for $4 billion in 2022.
- Ishbia added that UWM still employs 9,000 people and remains in a "fine position" going forward, dismissing negative media reports as unfounded stories created "out of thin air."
- The Suns are coming off a 45-37 season and return most of their roster, including star guard Devin Booker, forward Dillon Brooks, and guard Jalen Green.
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12 Articles
12 Articles
Coverage Details
Total News Sources12
Leaning Left6Leaning Right2Center4Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 33%
R 17%
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