Ownership of the Phoenix Suns basketball team will soon be switching hands. Billionaire mortgage executive Mat Ishbia is finalizing a purchase of the Phoenix Suns franchise in the near future, according to ESPN reporter Adrian Wojnarowski.

Ishbia is chairman and CEO of Michigan-based mortgage lender United Wholesale Mortgage (UWM). He purchasing the franchise, which includes the Phoenix Suns and the Phoenix Mercury WNBA team, from Robert Sarver.

The Suns franchise was put up for sale by Sarver earlier this year after a tumultuous year for the current owner. Sarver was fined $10 details ⇒

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