Source: Sale of Suns to Ishbia is approved

Mortgage executive and former Michigan State guard Mat Ishbia is the new majority owner of the Phoenix Suns and WNBA's Phoenix Mercury, after the NBA's board of governors approved his plan to purchase the controlling stake of those franchises from Robert Sarver, a person with knowledge of the matter said Monday night.

The vote was 29-0, with the Cleveland Cavaliers abstaining, according to a person who spoke to The Associated Press on condition of anonymity because the final decision had not yet been announced publicly.

Ishbia agreed on Dec. 20 to the deal, one that put the total value of the Suns and Mercury at $4 billion. Ishbia and his brother Justin said then that they would be acquiring more than 50% of the franchises, which includes the entirety of the embattled Sarver's share as well as some holdings from minority partners.

The sale was finalized hours after Jason Rowley — who was the Suns president and CEO — decided to leave the team in anticipation of the leadership changes, a person familiar with the matter told The Associated Press.

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