Sports
Phoenix Suns and Mercury’s Billionaire Owner Fields Interest From Potential Investors
- Teams may be valued above $4 billion in any transaction
- Billionaire purchased 57% controlling stake in February
Billionaire Mat Ishbia has held exploratory conversations about bringing new investors into the Phoenix Suns and Mercury basketball teams, according to people with knowledge of the matter.
Ishbia, who has the ability to buy shares from existing minority owners in the two teams, has fielded interest from US and international investors seeking to purchase shares if or when he adds to his holdings, said one of the people, all of whom asked not to be identified discussing confidential talks.