Mat Ishbia Rumors | Hoops Rumors

Suns Owner Ishbia On Vision, Roster, Trade Deadline, More

February 8th, 2023 at 12:58pm CST by Rory Maher

Mat Ishbia was approved this week by the NBA’s Board of Governors and is now officially the new majority owner of the Suns. He recently had an interview with Duane Rankin of The Arizona Republic (subscriber link) that covered a number of topics.

We have provided a few highlights below, but the full interview is worth checking out for any Suns fans.

On his vision for the Suns and WNBA’s Phoenix Mercury:

“I know that I’m the new owner, but I look at it like the Mercury and the Suns are owned by the city, by Phoenix, and my job is a steward. How do I do the right thing by them, make it a community asset, how do I take care of it and build it into a thing that the community can be proud of? As an owner, my job is to do the right things by the community. Do the right things by the fans, do the right things by the ‘team members’ as I call them and then finally, we’ll have a culture of winning on the court, off the court. Winning the fan experience, winning the sponsorship deal, winning all the things.

“… The real vision, long term, is how do we make Phoenix the elite NBA franchise in the country? We can do it. We have the market, we have the people, we have the organization. We are going to do that and that’s the goal and how do I (do it) measuredly? That’s one of the things I’ll put together here in the near future, but we are going to make it the elite NBA franchise and that’s the goal. Why not us?”

On how aggressive he’ll be at the trade deadline (Feb. 9 at 2:00pm CT) and in free agency this summer:

“I’m very active. And I’ll say this. I gave you the four things that I’m all about. None of them were profit. It’s all about team member experience, fan experience, community engagement and winning. There’s no money involved. Money follows success, not the other way around. I’m focused on winning. I’m focused on doing the right thing, not just short term. So I’m going to make good, long-term things, but remember, I also said the word culture, too. I need cultural fits that are about winning, that have long-term opportunity as a team, and I think you’ll see.

“You never know. I still got 2½ days left to go … but I’m extremely active. … We obviously have one player (Jae Crowder) that we have to move. This team, from my personal perspective, we have a championship-caliber team right now with no changes. If I can take an upgrade from a player that is not playing to a player that is playing, we’ve gotten even closer and if I can do more than that, I’m sure that would be even better.”

On what he hopes to establish in his first 90 days:

“I’m a big listener and learner. … I’m coming in to learn. I’m coming in to find out who the people are, find out who is ready, who is doing great things, who are the people who want to be part of this the right way, the long term. Who aligns with the vision that I’m going to set for the organization, which I’m going to be very clear with what I look for and how we look for it.

“And there are things I’m going to learn ’cause you know what, I’m not coming in making a bunch of changes. There will be very few changes between now and the end of the season. I’m coming in, listening, learning, finding out what the organization is about. Finding out who the people are, finding out who is passionate, who cares about the fan experience the way we think. Who is going to align and who doesn’t want to be a part of it and we’re going to figure all that stuff out.”

Ishbia’s introductory press conference is currently ongoing. According to Gerald Bourguet of PHNX Sports (Twitter link), Ishbia denied the report that Isiah Thomas would be part of the organization. He said Thomas is a “great friend,” but “there’s nothing happening right now.”

Suns Spokesperson Denies Team Hiring Isiah Thomas

February 7th, 2023 at 7:50pm CST by Rory Maher

7:50pm: A spokesperson for Ishbia tells Duane Rankin of The Arizona Republic (Twitter link) that while Ishbia and Thomas are friends, Thomas will not be part of the Suns’ front office.

7:02pm: New Suns owner Mat Ishbia is planning to hire NBA TV analyst Isiah Thomas for a “prominent role” in the team’s front office, sources tell Chris Haynes of Bleacher Report and TNT (Twitter link).

According to Mike Vorkunov of The Athletic (Twitter link), Thomas is on the board of directors of United Wholesale Mortgage, Ishbia’s company, so the two are obviously familiar with one another.

Thomas, who is in the Hall of Fame, is widely considered one of the greatest point guards in NBA history. He spent his entire 13-year career with the Pistons, which included two championships and 12 All-Star appearances.

The 61-year-old became a front office executive with the Raptors from 1994-97 after his playing days ended. Thomas also coached the Pacers from 2000-03 and was the Knicks’ president of basketball operations from 2003-08 (and their coach from 2006-08), so he certainly has a lot of experience.

However, his time in New York was controversial. As Vorkunov notes (via Twitter), in 2007 a Manhattan jury found that Thomas sexually harassed a former Knicks executive, who was improperly fired for reporting the unwanted behavior. The victim was awarded $11.6MM as part of the lawsuit.

Thomas’ tenure with the Knicks was also lousy from an on-court perspective. The team went just 151-259 during his five seasons as the lead basketball executive, a .368 winning percentage.

Hiring someone accused of sexual harassment and creating a hostile working environment is a pretty terrible look for Ishbia’s first move as an owner, considering the reason he was able to buy the Suns is because former owner Robert Sarver was suspended for one year and fined $10MM for engaging in behavior that “clearly violated common workplace standards.”

Mat Ishbia Officially Becomes Suns’ Owner

February 7th, 2023 at 3:11pm CST by Dana Gauruder

FEBRUARY 7: Ishbia has officially completed the purchase of a majority stake in the Suns, the team announced today in a press release.

“This is the culmination of a lifelong dream. I love the game of basketball deeply but it’s so much more than that for me,” he said in a statement. “Throughout my life, basketball has given me a second family, an education, and so much joy. I am honored to be the next steward of this community’s franchises in the Phoenix Suns and Phoenix Mercury and am totally committed to building an incredible organization on and off the floor.”

Ishbia and his group paid $2.28 billion for a 57% stake in the team, sources tell Baxter Holmes of ESPN. That’s the equivalent of a $4 billion valuation. Sarver received $1.48 billion for his 37% stake in the club, Holmes adds.

FEBRUARY 6: Mat Ishbia has been approved by the NBA’s Board of Governors as the Suns’ new owner, according to a league press release. The transaction is expected to close this week.

As Shams Charania of The Athletic tweets, the vote was 29-0 with the Cavaliers abstaining. Dan Gilbert, Cleveland’s owner, is also the majority owner of Rocket Mortgage. Ishbia is the chairman and CEO of United Wholesale Mortgage, which – like Rocket Mortgage – is based in Michigan.

Mat Ishbia and his brother Justin agreed to buy the Suns and the WNBA’s Phoenix Mercury from Robert Sarver at a valuation of approximately $4 billion. Sarver, who was suspended by the league for a year and fined $10MM for behavior that “clearly violated common workplace standards,” subsequently decided to sell his controlling stake in the franchise.

Ishbia reached an agreement with Sarver in December.

Typically, it takes at least a couple months for the NBA to officially approve and complete the sale of a franchise because the process involves extensive criminal, financial, and background checks on prospective buyers, who also have to meet with the NBA’s advisory and finance committees.

Ishbia is reportedly eager for the Suns to seek upgrades prior to Thursday’s deadline and his impact may have already been felt, as Phoenix pursued a trade for Kyrie Irving.

Ishbia’s agreement to buy the Suns will give him control of more than 50% of the franchise, as he and his group are also buying out some of the minority shareholders.

Scotto’s Latest: Reddish, Bucks, Holmes, Russell, Suns

January 28th, 2023 at 10:27am CST by Luke Adams

After reporting earlier in the week that the Knicks had expressed interest in acquiring Bucks guard Grayson Allen in a possible Cam Reddish trade, Michael Scotto of HoopsHype says Milwaukee continues to resist the idea of including Allen in any deal for Reddish.

According to Scotto, the Bucks have instead proposed a trade structure that would be centered around a 2023 second-round pick and salary filler. That “salary filler” could consist of veteran guard George Hill and big man Serge Ibaka, Scotto adds.

As for the second-round pick, the Bucks control both their own 2023 second-rounder and the least favorable of the Cavaliers’ and Warriors’ selections. Both Milwaukee and Cleveland currently have top-seven records, so those picks would both be in the 50s.

Here’s more from Scotto:

Marc Stein previously reported that rival teams were monitoring Kings center Richaun Holmes as a potential buyout candidate if he’s not moved at the trade deadline. However, league sources tell Scotto that a buyout won’t happen for Holmes this season. That’s no surprise — as I previously noted, Holmes is still owed $12MM in 2023/24 and $12.9MM on a ’24/25 player option after this season, while buyouts typically occur when a player is on an expiring deal.
Rival executives still believe that the Timberwolves will explore trading point guard D’Angelo Russell before the deadline, says Scotto. There were rumblings in December that the Heat and Wolves had at least a conversation about a swap involving Russell and Kyle Lowry, according to Scotto, but with Miami playing better, the team isn’t looking to move Lowry at this point.
Former Thunder VP and chief of staff Paul Rivers and former NBA point guard Mateen Cleaves have been mentioned by multiple NBA executives as candidates to join the Suns‘ organization, Scotto reports. Cleaves played with incoming Suns owner Mat Ishbia at Michigan State.

Suns Notes: Ishbia, Ayton, Booker, Payne

January 26th, 2023 at 5:31pm CST by Dana Gauruder

With a change in majority ownership of the Suns franchise imminent, Gerald Bourguet of GoPhnx.com offers a 10-step wish list for incoming owner Mat Ishbia. Some of the items on the list includes improving relationships with employees, resolving the Jae Crowder situation with a trade, and committing to a G League franchise.

We have more on the Suns:

Deandre Ayton indicated during the morning shootaround on Thursday that he’ll play against Dallas tonight, Bourguet tweets. Ayton, officially listed as probable, has missed the last three games due to an illness.
In the latest official update on Devin Booker‘s condition on Wednesday, the Suns said their star guard would be reevaluated in a week. Booker, who is recovering from a left groin strain suffered on Christmas Day, could return to action by the end of the month, John Gambadoro of Arizona Sports 98.7 FM tweets. Gambadoro anticipates Booker will return next week during either the home game against Toronto on Monday or Atlanta on Wednesday.
Cameron Payne missed his 10th straight game on Thursday due to a right foot injury. The team said on Tuesday that he’ll be reevaluated in a week and Payne says he’s not quite ready to play, according to Duane Rankin of the Arizona Republic. “It’s been an awkward feeling,” Payne said. “I just don’t really feel that comfortable. Like I can’t be myself. When I’m able to be myself, that’s when I want to get back out there on the court.”

Suns Sale Expected To Be Finalized Before Trade Deadline

January 25th, 2023 at 6:44pm CST by Luke Adams

6:44pm: Ishbia will be introduced as the Suns’ new owner at a February 8 press conference, tweets Baxter Holmes of ESPN.

11:44am: Mat Ishbia‘s purchase of the Suns from longtime owner Robert Sarver is expected to become official at some point in the next two weeks, ahead of the February 9 trade deadline, according to Baxter Holmes and Adrian Wojnarowski of ESPN.

The expectation is that the NBA’s Board of Governors will hold a vote to ratify the sale in early February, per ESPN’s duo.

Ishbia reached an agreement in December to buy the Suns from Sarver at a valuation of $4 billion. Typically, it takes at least a couple months for the NBA to officially approve and complete the sale of a franchise because the process involves extensive criminal, financial, and background checks on prospective buyers, who also have to meet with the NBA’s advisory and finance committees, according to Holmes and Wojnarowski.

It’s unclear if the process this time around was expedited with the trade deadline around the corner, but if Ishbia does indeed assume control of the team before February 9, it could have major implications for the Suns’ approach to the trade deadline.

For the time being, Sarver still has the final say on certain roster decisions, despite being suspended for a year, but that would no longer be the case once the NBA approves Ishbia’s purchase. There have been rumblings that – under new ownership – the Suns would be willing to take on long-term salary and give up a first-round pick at the trade deadline to make roster upgrades.

Ishbia’s agreement to buy the Suns will give him control of more than 50% of the franchise, according to Holmes and Wojnarowski. Sarver’s stake in the team wasn’t that substantial, but Ishbia and his group are also buying out some of the minority shareholders.

Suns Notes: Ishbia, S. Lee, Johnson, Okogie

January 21st, 2023 at 6:26pm CST by Arthur Hill

Mat Ishbia isn’t officially the new owner of the Suns yet, but his presence at courtside for Thursday’s game reinforced the idea that a new era is starting in Phoenix, writes Duane Rankin of The Arizona Republic. It was the first time the billionaire mortgage lender has attended a game since reaching an agreement to purchase the team last month, and the players were happy to have him there.

“He’s a cool guy,” Ish Wainright said. “I look forward to meeting him, picking his brain about not just basketball, but about business. I want to get to know him.”

Ishbia is still awaiting league approval on his $4 billion purchase, a process that Rankin notes typically takes about two months. Once the sale is official, the franchise can move on from current owner Robert Sarver, who was pressured to sell the team after being suspended for a year and fined $10MM for creating a toxic work environment. Coach Monty Williams believes Sarver shouldn’t be judged too harshly for his actions.

“Robert did a lot for this team, he did a lot for this city, he did a lot behind the scenes that people will never know about,” Williams said. “It was an unfortunate ending … but now as we turn the page, you start to look forward to what can be with the team with new ownership.”

There’s more from Phoenix:

Saben Lee is thrilled to get a second 10-day contract, Rankin tweets. Although Lee saw consistent playing time in his first four games with the Suns, averaging 11.3 points, 3.8 assists and 2.5 rebounds in 21.8 minutes per night, he didn’t take a second deal for granted. “When you expect things in this league, it usually doesn’t go the way you want it to,” Lee said.
Cameron Johnson, who played 22 minutes Thursday in his return to action following meniscus surgery on his right knee, will sit out Saturday’s game due to injury management, tweets Gerald Bourguet of PHNX Sports.
Josh Okogie, who suffered a broken nose Monday when Deandre Ayton accidentally elbowed him in the face, will be able to play Saturday night after clearing his final concussion evaluation, according to Bourguet (Twitter link).

Suns Notes: Ishbia, Lee, Paul, VanVleet

January 19th, 2023 at 8:32pm CST by Dana Gauruder

Brothers Mat and Justin Ishbia reached an agreement last month to purchase a majority stake in the Suns and the WNBA’s Mercury. Ishbia attended Phoenix’s game against Brooklyn on Thursday and is already influencing the team’s approach to the trade deadline, Shams Charania said on The Rally (video link).

“I’m told since Mat Ishbia and his announcement that he’s going to take over the Suns’ ownership has come out, the Suns have actually informed teams that they’re willing to move a first-round pick and potentially take on salary long-term for good players,” Charania said.

We have more on the Suns:

The team will have to make a decision on Saturday whether to offer Saben Lee another 10-day deal. Coach Monty Williams strongly endorses keeping Lee on the roster, Gerald Bourguet of GoPhnx.com tweets. “I’m hopeful to keep him around, because he brings something that we need,” Williams said. Entering Thursday’s game, Lee had appeared in three games with Phoenix, averaging 10.0 points and 3.0 assists in 19 minutes per game.
The Suns decided to sit Chris Paul on Thursday even though he practiced on Wednesday, Duane Rankin of the Arizona Republic tweets. “He did everything yesterday. It was just a decision that was made,” Williams said. It was Paul’s sixth consecutive missed game due to a hip issue.
Phoenix has been mentioned as a potential free agent destination for Raptors guard Fred VanVleet but as Bourguet explains in detail, that doesn’t seem feasible. The Suns don’t have the cap space to sign VanVleet in free agency and would have to blow up the roster to do a sign-and-trade. Trading for him before next month’s deadline in an attempt to re-sign him to max money also seems unwise, given their salary issues, especially if Paul remains on the roster as the starter.

Certain Suns Roster Moves Require Robert Sarver’s Approval

January 3rd, 2023 at 11:39am CST by Luke Adams

Suns owner Robert Sarver isn’t involved in the franchise’s day-to-day operations as he serves the one-year suspension handed down by the NBA in September. He’s also in the process of selling the team to billionaire Mat Ishbia, so it’s just a matter of time until he’s not part of the organization at all.

However, according to ESPN’s Brian Windhorst (Insider link), Sarver will still likely have the final say on certain Suns roster moves before he surrenders control of the club.

As Windhorst explains, Ishbia’s purchase of the franchise is unlikely to receive official approval prior to this season’s February 9 trade deadline. Until Ishbia formally takes over, the guidelines regarding Sarver’s involvement with the team call for the longtime Suns owner to sign off on any deals involving a player whose salary is worth more than the NBA’s average player salary, sources tell ESPN.

The estimated average salary for the 2022/23 season is $10,792,000, while top Suns trade candidate Jae Crowder is earning just $10,183,800. But the provision calling for Sarver’s approval on a roster move involving a player earning more than the league average includes the associated luxury tax costs, according to Windhorst. Phoenix’s team salary is currently well into the tax.

While the specifics aren’t entirely clear, Windhorst says that just about any trade involving Crowder will require Sarver’s sign-off. Acting governor Sam Garvin still has the ability to approve smaller deals without Sarver’s involvement, but Crowder has long been considered the Sun most likely to be moved. The veteran forward has been away from the club all season as president of basketball operations James Jones attempts to find a suitable trade.

As Windhorst acknowledges, if the sale of the Suns is approaching the finish line by the time a trade is sent to ownership for approval, Ishbia could end up having a significant voice in the process, despite not technically being the controlling owner yet. After all, there would be little incentive for Sarver to veto a deal that the incoming owner is fine with, since Ishbia will be the one on the hook for the end-of-season luxury tax payments.

Still, Windhorst suggests that the Suns’ “ownership morass” has been a factor in the slow-moving Crowder process, since the front office has had to attempt to negotiate possible deals while not having any contact with the person who could ultimately make the final decision.

Bucks’ Lasry Reportedly Looking To Sell Stake In Team

December 28th, 2022 at 3:03pm CST by Luke Adams

Bucks co-owner Marc Lasry is actively looking to sell his stake in the franchise, Marc Stein reports on Substack.

Stein referenced the possibility of a shake-up within the Bucks’ ownership group earlier this week, writing that “whispers have been circulating with increasing frequency” that Lasry could be open to selling his share of the team. His latest report suggests in strongest terms that it’s something to keep a close eye on in 2023.

Sources tell Stein that Lasry may end up selling his stake to his co-owner, Wes Edens, which would allow Edens to assume full controlling ownership of the franchise.

However, Lasry is also open to other options, according to Stein, who notes that The Ringer’s Bill Simmons recently reported on his podcast that Mat Ishbia spoke to Lasry about purchasing his stake in the Bucks before reaching an agreement to buy the Suns from Robert Sarver.

The Suns’ sale to Ishbia has led to speculation that we could see more NBA franchises – or minority stakes – change hands in the near future. The Suns were valued at $4 billion in that sale agreement, well above the $2.7 billion estimate Forbes published in the fall. With a new media rights deal around the corner and the possibility of expansion looming, the prices of NBA teams appear to be on the rise, which could make it a good time for current majority and minority stakeholders to cash out.

Forbes valued the Bucks at $2.3 billion in October, but presumably Lasry would be able to secure a higher valuation if he were to sell his portion of the team. He and Edens – along with a handful of minority investors, including Jamie Dinan – purchased the club from Herb Kohl for a reported sale price of $550MM in 2014.