New Phoenix Suns and Mercury owner Mat Ishbia is officially introduced

By Matthew Casey
Published: Wednesday, February 8, 2023 - 9:59pm
Updated: Thursday, February 9, 2023 - 7:36am

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Mat Ishbia
Matthew Casey/KJZZ
Mortgage company boss Mat Ishbia speaks at a news conference on Feb. 8, 2023 to officially introduce him as majority owner of the Phoenix Suns and Mercury.

The Arizona chapter of billionaire sports team owners has a new member.

But Mat Ishbia, the mortgage company executive officially introduced on Wednesday as governor of the Phoenix Suns and Mercury, said he’ll continue to live in the Midwest.

The crowd in the lobby of the downtown arena featured the Phoenix mayor, its city manager and local player-legends.

Ishbia told them that he sees himself more as a steward of the Suns and Mercury than their owner. And he promised to spend time listening and learning about the organizations before making changes.

Ishbia is also president of a publicly traded mortgage company.

“I’m not going to physically live here. I’ve got these three wonderful children. I live in Michigan. However, I’ll be out here quite a bit,” he said.  

Being the majority owner of the Suns and Mercury also lets Ishbia cash in on gambling.

Both of his teams hold state licenses to have sportsbooks, which are run through partnerships with FanDuel and Bally’s Corporation.

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