Source: Board of Governors approves sale of Suns to Ishbia
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 ab- staining, according to a per- son who spoke to The Asso- ciated 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.
Mat Ishbia will be the Suns' governor, Justin Ishbia will be alternate governor. They now can assume those roles just days before Thursday's NBA trade deadline, and with the Suns squarely in the middle of the Western Conference playoff race.
There are tentative plans to introduce Mat Ishbia on Wednesday.
No other sale in NBA history has been completed with a $4 billion valuation of the franchise involved. Joe Tsai bought the Brooklyn Nets and Barclays Center for $3.3 billion in 2019, and Tilman Fertitta purchased the Houston Rockets for $2.2 billion in 2017.
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.
TRIO LEADS CAVS >> Darius Garland and Jarrett Allen scored 23 points apiece and Donovan Mitchell added 21 to lead the Cleveland Cavaliers to a 114-91 rout of the host Washington Wizards on Monday night. Kristaps Porzingis scored 18 points for Washington. The Wizards were playing without Bradley Beal (left foot soreness) and Kyle Kuzma (left ankle sprain). CELTICS 111, PISTONS 99 >>
Jayson Tatum started slow and finished strong with 34 points, 11 rebounds and six assists, leading visiting Boston. Tatum made three 3-pointers in the third, scoring 18 points in the quarter. Celtics guard Jaylen Brown missed the game with a nonCOVID illness. Bojan Bogdanovic scored 21 for Detroit.
CLIPPERS 124, NETS 116 >> Paul George scored 29 points, Kawhi Leonard added 24 and visiting Los Angeles overcame a career-high 47 points from Brooklyn's Cam Thomas in his first start. Ivica Zubac added 19 points and 12 rebounds for the Clippers, who won for the eighth time in 10 games. Thomas, who scored 44 to rally the Nets past Washington on Saturday, was even better on the day the Nets completed the trade that sent Kyrie Irving to Dallas.