$7.8 Billion Rich Suns Owner Wins Massive Bid for Phoenix, Amid WNBA Achievement

In February 2023, Mat Ishbia, an American billionaire who amassed his wealth in the mortgage industry, assumed ownership of the Phoenix Suns and Mercury. He has been unequivocal about his vision for both the teams and the city of Phoenix. Ever since the takeover, Ishbia has been aggressive in his pursuit of excellence, evidenced by the fact that he traded for both Kevin Durant and Bradley Beal.

In a recent development, it is being reported that under the leadership of Ishbia, Phoenix has won the bid to host the 2027 NBA All-Star Weekend. According to the Athletics’ Shams Charania, “The NBA is nearing plans for Phoenix and the Suns to host 2027 All-Star Weekend, multiple sources tell me.” 

This development comes just a month after the Phoenix Mercury won the bid to host the 2024 WNBA All-Star Weekend. Phoenix winning the bid to host both the NBA and the WNBA All-Star Weekend just goes on to show the impact that new owner Mat Ishbia has had on Phoenix’s basketball landscape.

Mat Ishbia’s transformative impact on Phoenix

Since taking charge of the Phoenix Suns and the Mercury, Ishbia has invested heavily in both the teams. Mat Ishbia, who’s valued at $7.8 billion by Forbes, has also invested in a state-of-the-art practice facility specifically for the Mercury. This expansive facility spans approximately 65,000 square feet in area. Furthermore, Ishbia decided to make Suns’ games available to the local market for free. He signed a deal with Diamond Sports Group, which means the majority of Phoenix’s games will telecast on Arizona Family 3TV. However, he went one step further, as he provided complimentary antennas to fans who couldn’t access the game.

Mat Ishbia’s initiative appears to be yielding positive results, with an increasing number of fans tuning in to watch the Phoenix Suns live on television. According to Sports Business Journal, the Suns have witnessed a rise in viewership of around 94% compared to last season. This growth rate is second only to that of the defending champions, the Denver Nuggets, and the first-seeded Minnesota Timberwolves.

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Despite the positive impact made by Ishbia, many people have pointed out that he can’t continue investing such heavy sums for a prolonged period. However, during the official press conference announcing his takeover, Ishbia offered insights into his mindset and approach. He said, “I’ve never focused on money. Success is the key, money always is followed. We’re not sitting here focused on money. Nobody cares about money. We’re focused on winning, community impact, culture and fan experience.”